Groupon sells its ticket seller stake

Los Angeles Times - - BUSINESS -

On­line daily deal ser­vice Groupon is sell­ing its con­trol­ling stake in Ticket Mon­ster to a part­ner­ship formed by KKR and An­chor Eq­uity Part­ners for $360 mil­lion.

Groupon pur­chased Ticket Mon­ster, a South Korean on­line ticket seller, in Jan­uary 2014 from Liv­ingSo­cial Inc. in a $260 mil­lion cash-and-stock trans­ac­tion.

As part of the deal with KKR and An­chor Eq­uity, Groupon will re­ceive $285 mil­lion in cash, while Ticket Mon­ster will get the re­main­ing amount. Groupon said it plans to use pro­ceeds from the sale of the 46% stake for gen­eral cor­po­rate pur­poses and stock buy­backs.

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