] MBK Partners
, South Korea’s largest private equity fund, has recently acquired Accordia Golf, Japan’s No. 1 golf course chain, in an 860 billion won (US$754.58 million) deal, Korea Economic Daily reported on Feb. 23.
With the latest takeover, MBK aims to create the largest golf course chain in Asia that extends across Korea, China and Japan.
Considering Accordia’s debt of 633 billion won, the total transaction will amount to about 1.5 trillion won.
The deal comes after MBK sought to acquire Accordia through Daiwa Securities since November 2014. MBK is purchasing the firm at 1,210 yen (US$1,068) per share. The stock will be delisted from the Japanese stock market next month.
By Alex Lee (firstname.lastname@example.org)