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South Korean accommodation platform Yanolja's takeover of e-commerce platform Interpark approved by KFTC

( March 27, 2023, 21:00 GMT | Official Statement) -- MLex Summary: South Korea’s accommodation platform Yanolja’s acquisition of e-commerce platform Interpark has been approved by the country’s competition watchdog. The Korea Fair Trade Commission announced its approval of the deal in a statement today, saying it found no reasons for concern that the deal would substantially limit competition in the hotel-booking market and other relevant markets. Yanolja purchased 70 percent of Interpark’s shares for 301.1 billion won (about $231.1 million) and filed for a merger review in May last year. The transaction was a vertical and horizontal integration, combining Yanolja’s hotel-booking services and cloud-based solutions that assist lodging operations, with one of South Korea’s largest platform companies, which offers a wide range of goods and services including tickets to concerts and shows, hotel and flight booking services and other leisure products.The statement, in Korean, is attached....

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