Sequoia Capital to acquire controlling stake in Rare Market

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MERGERMARKET – 12/01/2022

California-based Sequoia Capital has entered into an agreement to acquire a controlling stake in Rare Market, an unlisted South Korean fashion concept shop operator. […]

Sequoia Capital will acquire a stake of between 60% and 69% in Rare Market from the latter's co-CEOs, Kwon Dami and Jessica Jung. The deal value is known to be about KRW 100bn (USD 83.8m). 

The co-CEOs will jointly retain the remaining 30%-plus stake in the company and participate in the management team at the company.

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