Daegu Department Store Enters Share Purchase Agreement for Change of Largest Shareholder, Selling 25.82% Stake at KRW 8,000 per Share

Daegu Department Store's largest shareholder Koo Jung-mo and six others signed a share purchase agreement on July 15, 2026 to sell 2,795,743 common shares representing a 25.82% stake to Segyeong Invest and Aram Korea at KRW 8,000 per share.
The total consideration is KRW 22.365 billion with a down payment of KRW 1 billion paid on signing. The balance is due one day before the extraordinary general meeting. The transaction is expected to close on August 25, 2026.
The acquisition price represents a premium of approximately 58% over the current market price, signaling a positive view of the company's value from the buyers. This could boost short-term share price but long-term impact depends on new management strategies.
[AI Summary]Daegu Department Store finalized a change of controlling shareholder with a premium-priced block sale of 25.82% at KRW 8,000 per share, 58% above market. While this is positive for existing shareholders, the future stock performance hinges on the new owners' strategic direction and operational improvements.