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[Alpha Biz=(Chicago) Reporter Paul Lee] The 11th Street Financial Investor (FI) Nile Holdings Consortium is seeking to sell 11th Street to Alibaba and Qoo10.
According to Money Today on the 5th, the Nile Holdings Consortium has announced its intention to acquire 11th Street to Qoo10, which operates Alibaba and Timon Wemakeprice Interpark, which operate Aliexpress.
Alibaba and Qoo10 were mentioned as candidates for the sale of 11th Street, led by SK Square, a major shareholder of 11th Street, last year, but negotiations broke down due to a lack of conditions over the sale price.
11th Street was valued at 2.7 trillion won in corporate value when it attracted FI in 2018, but was valued at around 1 trillion won during last year's sale negotiations. Nile Holdings is said to have proposed the sale price of 11th Street at around 500 billion won.
Considering the market situation that it is difficult to find e-commerce buyers and the fact that Nile Holdings has received dividends from SK Square by 3 billion won a year, it is not a losing business for FI even if it recovers its investment principal of 500 billion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
