NAVER to Acquire Additional Shares Worth 972.8 Billion Won in Spanish Subsidiary

NAVER (NAVER) announced on December 16 that it will acquire an additional 562,707,374 shares of its Spanish investment affiliate, NW HOLDINGS INTERMEDIA, SOCIEDAD LIMITADA, for approximately 972.8 billion won.

After the acquisition, NAVER's ownership stake will be 100%. The scheduled date for the share acquisition is March 30, 2026.

NAVER stated that the purpose of the acquisition is to convert a loan into equity to acquire shares of another company held by its subsidiary. Specifically, the company explained that this is a loan-to-equity conversion to secure funds for the acquisition of Wallapop in Spain. NAVER will lend 972.8 billion won to its Spanish investment affiliate and then convert the loan into equity.