Dechert LLP

09/24/2020 | Press release | Distributed by Public on 09/24/2020 04:50

Dechert Advises Naver Corporation on US$80 Million Investment in...

Dechert's corporate and securities team has advised South Korea-headquartered global internet conglomerate Naver Corporation on its latest successful investment round into Singapore's homegrown classifieds marketplace Carousell Pte. Ltd. (Carousell).

Dechert was the legal advisor to Naver Corporation, which led a consortium comprising Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities, on solidifying an investment in Carousell amounting to US$80 million. Following this investment, Carousell will be valued at more than US$900 million.

Naver Corporation which began as a South Korean web search engine, has since grown to a global internet platform offering more than 200 million global users access to some of the world's leading advanced technology providers from search engine and social media community platforms, through to AI research and development.

Siew Kam Boon, Partner, Dechert said: 'We are proud to have supported Naver Corporation in its momentous investment in Carousell. This deal showcases Naver's sustained commitment to the acceleration and innovation of technology platforms, as well as demonstrates the strength of Dechert's corporate and securities practice, especially with respect to market-leading transactions which support the vibrancy of the region's growing technology space.'

The Dechert team advising on the Naver Corporation investment deal was led by Singapore-based Partner Siew Kam Boon, with support from counsel Timothy Goh in Dechert's Singapore office and associate Susan Yoon in Dechert's Hong Kong office.

About Dechert

Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.