GS Retail may consider buying more shares in Yogiyo GS Retail has enough funds to further increase its stake in delivery platform
Translated by Kim So-in 공개 2021-08-19 08:04:22
이 기사는 2021년 08월 19일 08:02 thebell 에 표출된 기사입니다.
GS Retail is using its proceeds from a merger with GS Homeshopping to make large-scale mergers and acquisitions deals. It has recently acquired South Korea’s second-largest food delivery platform Yogiyo from Germany’s Delivery Hero.A consortium led by GS Retail has agreed to acquire Yogiyo for 800 billion won ($684 million), of which GS Retail will invest 240 billion won to take a 30% stake in the delivery platform. It will also inject additional 60 billion won into Delivery Hero Korea, an operator of Yogiyo.
GS Retail will participate in the Yogiyo management as a strategic investor. It aims to strengthen its position in the ecommerce market by integrating its 16,000 offline shops and 60 distribution centers with Yogiyo's online delivery business.
The latest deal follows GS Retail's acquisition earlier this year of a 19.51% stake in Mesh Korea, an operator of quick delivery service provider Vroong, to become its second-largest shareholder.
It is better for GS Retail to have control of Yogiyo in order to boost its competitiveness in the ecommerce market. The company can participate in Yogiyo's management as a strategic investor, but it needs to become the largest shareholder by acquiring an additional stake to build a stronger partnership.
The company has ample funds to acquire an additional stake as its total equity increased from 2.32 trillion won ($1.98 billion) at the end of 2020 to 3.57 trillion won after the merger with GS Homeshopping.
Analysts predict that GS Retail is unlikely to be financially burdened by the acquisition cost of 300 billion won as it had 250 billion won in cash reserves at the end of March with a debt-to-equity ratio of 173%.
“GS Retail is highly likely to secure management rights of Yogiyo by taking over an additional stake in Yogiyo in the future,” said an industry source. “By doing so, the company will create synergies between online and offline channels and strengthen its platform capability.”
“Although there is no specific plan to purchase additional shares yet, we, as a strategic investor, are focusing on establishing a strategy to maximize synergy with existing offline stores,” said an official at GS Retail. (Reporting by Seon-ho Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진