MBK Partners acquires 26.87% of Connectwave for KRW 264.8bn
- Deal value
- $183m
- Stake
- 26.87%
- Implied 100%
- $680m
- Revenue
- $317m
- Op. income
- $22m
- Multiples
- EQV/EBIT 30.6xPSR 2.1x
Deal value ÷ stake (structure unconfirmed)
2023 연결 · DART-verified
2023 연결 · DART-verified
On implied equity value
DART 20250314000632
- Target
- Connectwave · E-commerce price-comparison platform
- Buyer
- MBK Partners · FI
- Seller
- Public shareholders (tender offer)
- Structure
- —
- Announced
- Apr 29, 2024
- Closed
- May 28, 2024
- Stage
- Closed
Target
KOSDAQ-listed operator of e-commerce platforms including the price-comparison service Danawa, formed through the merger of Korea Center and Danawa.
Deal rationale
The stated purpose in the tender-offer filing was to improve management efficiency by quickly taking the company private, and MBK said it would pursue delisting as soon as possible after the offer. According to IB Tomato, MBK completed the voluntary delisting in 2024 through the tender offer, open-market purchases and a comprehensive share exchange following its earlier acquisition of Korea Center (now Connectwave).
| Revenue | $317m |
| Operating income | $22m |
| EBITDA | — |
| Net income | — |
2023 연결 · DART-verified · 20250314000632
Press coverage
- 스마트투데이 (2024-04-29): “사모펀드 MBK파트너스는 커넥트웨이브 주식 1665만주(29.61%)를 대상으로 공개매수를 진행한다고 29일 금융감독원에 공개매수 신고서를 제출했다.”
- 뉴스토마토(IB토마토) (2024-04-29): “MBK파트너스가 설립한 투자목적회사 한국이커머스홀딩스이호는 다음달 24일까지 커넥트웨이브의 잠재발행주식총수 29.61%인 1664만7864주를 주당 1만8000원에 공개매수를 진행한다.”
- 아시아경제 (2024-04-30): “자발적 상장폐지에 필요한 95% 지분 확보를 위한 ‘테이크 프라이빗’ 전략”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.