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Goldman, EastBridge to buy majority stake in Happycall

Staff Writer |
Goldman Sachs Group and EastBridge Partners, a South Korean private equity fund, said they agreed to buy a majority stake in South Korean kitchenware and home appliance maker Happycall.

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The financial terms of the acquisition were not publicly disclosed, but people close to the deal said Goldman and EastBridge would acquire a 90-percent stake in Happycall for 180 billion won ($160.7 million).

Goldman and EastBridge are said to pay 40 billion won and 50 billion won each and the remaining 90 billion won will be raised by acquisition financing.

Founded in 1999, Happycall sells a variety of kitchenware and home appliance goods in 22 nations, including China and Japan.

Last year, Happycall posted an operation profit of 10.7 billion won on sales of 132.1 billion won.

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