- Groupon (NASDAQ:GRPN) is up 3.9% premarket as it's agreed to sell a 46% stake in Ticket Monster to KKR and Hong Kong's Anchor Equity for $360M. It'll maintain a fully diluted 41% stake in the South Korean deals business.
- The move values Ticket Monster at $782M (assuming full vesting of management's 13% stake) and means a gain on the sale of $195M-$205M. Groupon will receive $285M in cash with the remainder going to Ticket Monster.
- The company has recast guidance to treat Ticket Monster as discontinued, expecting Q1 revenue between $720M-$770M and non-GAAP EPS between $0.01 and $0.03. Adjusted EBITDA is now expected between $58M-$78M for the quarter.
- Groupon also approved a $300M buyback program upon the closing of the Ticket Monster transaction.