[Alpha Biz= Reporter Kim Sangjin] Yanolja has announced that its affiliate, Interpark Triple, acquired 9,828,245 shares (approximately 25%) of Qxpress on September 6, making Yanolja the second-largest shareholder in the company.
This acquisition follows Yanolja's decision to execute a share pledge from a previous stock sale agreement. Last April, Yanolja had agreed to sell its stake in Interpark Commerce to Qoo10, receiving stock pledges instead of cash.
The sale was valued at approximately 187.1 billion won ($140 million), but Yanolja received 168 billion won ($126 million) worth of Qxpress shares as collateral. Initially, Qxpress's total enterprise value was estimated to be in the high 7 trillion won ($5 billion) range, but it has since declined significantly due to the Temeph incident.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
