Birdwood (Lamid Group) acquires Club D Songnisan CC for KRW 90bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $62m
- Stake
- —
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Club D Songnisan CC · Golf course operation
- Buyer
- Birdwood (Lamid Group) · SI
- Seller
- IGIS Asset Management (Fund No. 232)
- Structure
- —
- Announced
- Jul 1, 2024
- Closed
- Jul 1, 2024
- Stage
- Closed
Target
An 18-hole public golf course in Boeun, North Chungcheong (formerly Arisol CC), completed in 2011 and operating since 2014 on an 828,500 sqm site; acquired in 2019 by IGIS Asset Management into its private real-estate fund No. 232 and operated by Ido.
Deal rationale
According to Dealsite, Birdwood, a golf-course management affiliate of Lamid Group (formerly Sun&Moon Group), completed the purchase on 1 July 2024 as it continued buying golf-course assets, while seller IGIS Asset Management resold an asset it had bought for KRW 66bn in 2019 after about five years.
Press coverage
- 딜사이트 (2024-10-25): “인수 가격은 900억원으로 홀당 50억원 수준이다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.