Naver Acquires 14.99% Stake in Cafe24 Through Stock Swap Method
[Asia Economy Reporter Ji Yeon-jin] Naver (NAVER) will acquire a 14.99% stake in e-commerce hosting company Cafe24.
On the 10th, Naver announced that it decided to contribute 310,327 treasury shares (0.19% of the total issued shares) in kind to acquire 3,321,169 new shares of Cafe24 (14.99% of the total issued shares after the capital increase).
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Naver explained, "Our company and Cafe24 Co., Ltd. plan to form a share partnership to strengthen and maintain a mutual strategic business alliance," adding, "If Cafe24 intends to sell these shares, a right of first refusal call option will be granted to allow our company or a designated party to purchase them preferentially."
This content was produced with the assistance of AI translation services.
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