DLA Piper, Kirkland & Elllis and Weil, Gotshal & Manges are advising on Groupon’s agreement to sell a 46 percent controlling stake in Ticket Monster, its South Korean ecommerce business, to a partnership formed by KKR and Anchor Equity Partners for $360 million.
Groupon will retain 41 percent in the unit after the deal closes. It will receive $285 million in cash, with the rest paid to Ticket Monster, Groupon said.
The sale is expected to result in a gain of between $195 million and $205 million on a pre-tax basis for Groupon.
A Weil Gotshal team led by Hong Kong corporate partner Peter Feist is representing Anchor Equity Partners on the transaction, while Kirkland & Ellis is advising KKR, led by New York corporate partners Sean Rodgers and Leo Greenberg.
DLA Piper is representing Groupon on the deal.
Groupon, which bought Ticket Monster from rival LivingSocial Inc about a year ago for $260 million, said the deal is expected to close in the second quarter.
