Interpark Bids On Buy The Way

SEOUL (Reuters) – South Korean online mall operator Interpark (035080.KQ) said on Monday it had submitted a preliminary bid to buy local convenience store chain Buy The Way from private equity firm Unitas Capital.

“We have participated in the bid for Buy The Way, but we have not heard from the seller yet. This is ongoing,” said Interpark spokeswoman Nam Chang-im.

A market source has estimated the deal would be worth over $260 million.

(Reporting by Jungyoun Park and Kim Yeon-hee; Editing by Jonathan Hopfner)