The long-running question mark over Groupon’s ownership of Ticket Monster has been resolved. Today the company announced that it is selling a controlling stake in the Korean online shopping platform to a consortium that includes Anchor Equity Partners, KKR and TMON management. The group is taking a 46% of the company for $360 million, valuing Ticket Monster at $782 million, assuming a full vesting of management’s 13% stake. Subject to the closing of the TMON stake, Groupon will also initiate a $300 million share repurchase program.
Groupon says it will continue to retain a fully diluted 41% minority stake in the company that it originally announced it would acquire in November 2013 from LivingSocial for $260 million (with the transaction closing in January 2014). The transaction is expected to close in Q2 of this year, the company says.
A filing with the SEC also notes that the transaction will need approval from the Korean Fair Trade…
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