Press Release
| May 7, 2010
Dewey & LeBoeuf Represents eBay Inc. in Asia-Based Joint Venture
(Silicon Valley, May 7, 2010) – Lawyers from our Silicon Valley and Hong Kong offices represented eBay, the world's largest online marketplace, in negotiating a joint venture agreement with Young Bae Ku, the founder of Gmarket, a leading e-commerce company in Korea. The joint venture intends to grow Gmarket’s online marketplaces in Japan and Singapore and to expand across select markets in Asia.
eBay will contribute assets from Gmarket’s existing Japanese and Singaporean businesses to the joint venture, and eBay and Young Bae Ku will each make financial contributions of approximately $10 million to the venture. eBay will also license Gmarket’s technology and brand on behalf of the joint venture, while Young Bae Ku will provide local management expertise.
Partners Jane Ross and John Brockland led the deal team. Assistance was provided by Partners Keith Flaum, Paul Chen and Heng Loong Cheong. Keith and Jane previously handled eBay's $1.2 billion acquisition of Gmarket.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383