Kkumbi disclosed June 26 that it has decided to acquire 2,979,731 shares, or 27.74%, of Toebox Korea to diversify its business and secure new growth drivers.
The acquisition is valued at 13.53 billion won ($8.76 million), equivalent to 19.99 percent of the company's equity capital.
The planned acquisition date is July 23.
jiyoon436@heraldcorp.com
