In February this year, Uni-President Group announced that it would acquire Yahoo Taiwan's e-commerce business.make investments, and after launching a strategic partnership, Yahoo Taiwan announced earlier that it will complete its joint venture with Uni-President Group later this year.
Based on the US$2500 million convertible bond investment that Uni-President Group has already made in Yahoo Taiwan's e-commerce business, the two parties will further deepen their cooperation.
Uni-President Group and Yahoo Taiwan will hold 80% and 20% of the shares of Yahoo Taiwan's e-commerce business respectively, and Uni-President Group will obtain the dominant position in the operation of the joint venture. The overall transaction, including subsequent operating investment, is worth US$1 million. Uni-President Group and Yahoo Taiwan will use this joint venture to strengthen the synergy of cooperation and further enhance the overall development of Taiwan's e-commerce.
"We are delighted to further our existing investment relationship with Uni-President Group by establishing a joint venture," said Huang Ji-lok, CEO of Yahoo Taiwan and General Manager of Yahoo Asia. "By leveraging our extensive talent, valuable data insights, and digital operations experience, combined with Uni-President Group's comprehensive consumer experience across lifestyle brands, we will expand our market influence. Going forward, Yahoo will authorize the joint venture to continue using the Yahoo Taiwan e-commerce brand. Under the leadership of the existing operations management team, we will continue to strengthen the competitiveness of our online shopping platform, provide consumers with higher-quality products and services, and explore more growth momentum and opportunities in the increasingly competitive e-commerce industry."
Uni-President Group is committed to building an omnichannel lifestyle brand, offering consumers a more timely, convenient, and affordable all-encompassing experience, and moving toward its vision of becoming "Asia's leading lifestyle distribution platform." In line with the group's core focus on the digital economy and logistics, Uni-President Group will deepen its collaboration with Yahoo Taiwan E-Commerce through a joint venture, striving to achieve its goal of providing consumers with a "last mile to last step" approach. Combining Yahoo Taiwan E-Commerce's extensive data and experience in the digital economy with Uni-President's lifestyle brand and retail distribution footprint will strengthen Uni-President Group's leading position in Taiwan's lifestyle industry and provide consumers with a more comprehensive digitally driven retail network.
