The company has completed the transfer of 80.01% of eBay Korea to Emart
eBay has completed the transfer of an 80.01% stake in its Korean businesses to Emart for approximately $3.0 billion of gross cash proceeds.
According to the press release, the company will retain a 19.99% interest in the Korean businesses, including G-Market, IAC and G-9.
Meanwhile, eBay remains committed to buying back up to $7 billion worth of shares for this fiscal year.
We’ve reported that eBay entered into a strategic partnership and investment in bidadoo, an online remarketing and auction company of equipment, trucks and capital assets.
As one of the largest marketplaces for Heavy Equipment, eBay offers buyers a wide selection of equipment, trucks, parts and attachments for industries from construction to transportation to agriculture.
Through bidadoo, eBay buyers have access to the used construction equipment from leading manufacturers, governments, rental companies, contractors and financial institutions, all supported by eBay’s Business Equipment Protection Program.