[Alpha Biz= Reporter Kim Sangjin] Yanolja, the travel platform company, is exploring the possibility of converting the 160 billion KRW payment due from the acquisition of Interpark Commerce into equity in Qxpress, following the failure to receive the payment from Qten Group. This move comes as Yanolja prepares for its upcoming Nasdaq listing and seeks to address the unexpected financial challenge.
As of August 20, sources from the investment banking (IB) industry indicate that Yanolja is considering an arrangement where the unpaid acquisition amount would be converted into a 25% stake in Qxpress, making Yanolja the second-largest shareholder in the company. Yanolja has confirmed that discussions are ongoing regarding how to handle the outstanding payment but has not yet finalized any decisions.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
