Golfzon ties up with private equity fund to acquire golf courses

By Lim Chang-won Posted : September 27, 2017, 18:10 Updated : September 27, 2017, 18:10

[Aju News DB]


Golfzon, South Korea's largest supplier of golf simulators, forged a deal with MBK Partners, a local private equity fund, to jointly acquire golf courses.

The golf simulator provider said in a regulatory filing that its golf course management unit, Golfzon County, would be split on January 1 to create a new entity. MBK would acquire an unspecified amount of new shares.

The two companies did not confirm news reports that new shares worth one trillion won will be issued with MBK acquiring half of them, and the investment will be used to acquire about 30 golf courses.

 
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