🍋‍🟩 You can find out by reading this!

  1. This is news that Oasis has signed a conditional investment agreement to acquire TMON. There's a possibility that they will acquire TMON, which is currently undergoing corporate rehabilitation proceedings, for around 20 billion won. The commerce industry is buzzing with this news. With total assets of approximately 70.25 billion won and total liabilities of 1.0191 trillion won, will acquiring TMON be a gain or a loss for Oasis? We've heard the pros and cons being debated on the ground.
  2. Oasis's purpose in acquiring an online commerce platform is quite clear. Oasis attempted to acquire 11st last year but was unsuccessful, and now they are pursuing the acquisition of TMON. According to Oasis's disclosed financial statements, Oasis had enough cash assets to pursue the TMON M&A strategy, even though TMON's corporate value has fallen significantly. Moreover, there was clear numerical evidence that they should focus on online business expansion. We'll take a look at the related content.
  3. However, no matter how much cash Oasis has, acquiring TMON and fully digesting it as their own is a separate issue. Questions follow about whether Oasis, which has grown based on offline stores and focused on the online grocery shopping and dawn delivery business, will be able to create synergy by acquiring an open market. First of all, many evaluations said that operational OOO must be secured before synergy with TMON. You can find out what it is through the main text.
  4. If Oasis succeeds in acquiring TMON, it will be a 'third way' in itself. It is attempting category expansion in a different way from how Kurly increased its items to include miscellaneous goods and beauty products. It's a strategy to secure online sales channels, the opposite of how Jung Yuk Gak increased its offline bases by acquiring Chorocmaeul. If this works, they will be able to take another step towards the IPO that all commerce companies dream of. We've heard the optimal IPO scenario from the industry.

CHAPTER 1

Oasis Participates in the TMON Acquisition

Oasis, a specialized distributor of eco-friendly and organic fresh food, is pursuing the acquisition of TMON. Multiple media outlets reported on the 6th that Oasis signed a stalking horse* conditional investment agreement with EY Hanyoung Accounting Firm, the sales manager for TMON and Wemep. Oasis was selected as the preferred bidder for the acquisition of TMON, and the acquisition price is known to be around 20 billion won.

*Stalking Horse: An M&A method in which a buyer is pre-determined before selling a company, and then other buyers are sought through competitive bidding to offer better conditions. (Source: Yonhap Infomax Current Affairs Financial Terms)

The commerce industry is buzzing with this news. This is because TMON was once one of the leading domestic commerce platforms, recognized with a corporate value of trillions of won. However, its value gradually declined due to continued losses and sluggish sales, and the TMON-Wemep situation was the final blow, and it is currently undergoing corporate rehabilitation proceedings. According to the due diligence report by EY Hanyoung Accounting Firm, TMON's total assets are approximately 70.25 billion won, and its total liabilities are approximately 1.0191 trillion won.

Accordingly, there are mixed opinions on whether Oasis's acquisition of TMON will be a gain or a loss. In the industry, there are various opinions, from positive opinions such as 'an opportunity to absorb TMON's commerce capabilities and customers at a low price' to negative opinions such as 'Oasis and TMON's business characteristics are too different' and 'TMON is a platform that has lost trust along with chronic losses.'

In this content, we first looked at why Oasis wants TMON. Then, we predicted what would happen if the acquisition is ultimately successful by synthesizing the opinions of commerce industry officials. In particular, experts in the distribution and commerce industry unanimously said that the Oasis side needs to try 'these strategies' to go through the difficult path of re-challenging the IPO. Let's find out what it is.