Shinsegae and E-MART said on the 11th they decided to jointly acquire all the equity in SSG.com held by Olympus Jeil No. 1, a financial investor in SSG.com. As a result, E-MART will newly acquire 857,036 shares, and Shinsegae will newly acquire 459,456 shares. After the transaction is completed, E-MART will hold 65.1% of SSG.com's equity, and Shinsegae will hold 34.9%.
That day, Shinsegae and E-MART held board meetings and decided to exercise their right to a put option (call option) under a shareholders' agreement signed in Nov. 2024. The two companies held the right to exercise a put option (call option) on all 30% equity held by Olympus Jeil No. 1. Payment for the shares (exercise of the call option) is on Aug. 26.
A Shinsegae Group official said it was a "governance restructuring following the exercise of the call option," adding, "we will strengthen SSG.com's future growth potential and seek to improve management efficiency." As of the end of last year, SSG.com posted sales of 1.3471 trillion won and a net loss of 99.7 billion won. Compared with the previous year, sales fell 14.5% and the deficit widened 42.8%.