[Courtesy of Accordia Golf]
South Korea's leading private equity fund MBK Partners will take over Japan's largest golf course operator Accordia Golf Co. for 890 billion won (760 million US dollars), industry sources said Wednesday.
According to local investment bank sources, MBK Partners purchased shares of Accordia for 1,210 yen ($10.73) per share on the Tokyo Stock Exchange Wednesday with a 16.9-percent premium over the previous session's closing price.
It will mark the biggest merger and acquisition (M&A) by a local firm in Japan, they said. The deal, if competed, would make MBK's enterprise value at 1.5 trillion won, including Accordia Golf's debt worth 600 billion won.
Accordia Golf, founded by Goldman Sachs Group in 2006, currently owns 136 golf courses in Japan with a 5-percent market share. The largest shareholder is Heiwa Casinos.
(Yonhap)
reporter
Park Sae-jin
swatchsjp@ajunews.com
