Kiwoom Investment Asset Management to acquire Hilldrosai CC for KRW 150bn
기타 Consumer & Retail Golf course operation
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $103m
- Stake
- —
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Hilldrosai CC · Golf course operation
- Buyer
- Kiwoom Investment Asset Management · 기타
- Seller
- Engineering Guarantee Insurance (EGI)
- Structure
- —
- Announced
- Dec 30, 2024
- Closed
- —
- Stage
- Signed
Target
18-hole public golf course in Hongcheon, Gangwon, opened in 2011 as a members' club and converted to public access in 2016, on a 2.09 million m² site with a 78,165 m² condo development plot (Financial News).
Deal rationale
Per Financial News, the Engineering Guarantee Insurance cooperative (EGI) bought the course from Iljin in November 2019 for about KRW 85bn and is selling at around KRW 150bn, an expected gain of about KRW 65bn; Kiwoom is acquiring via a fund rather than a REIT. The seller's reason was not reported.
Press coverage
- 딜사이트 (2025-01-06): “키움운용은 지난달 30일 EGI와 힐드로사이CC를 인수하는 SPA 계약을 체결했다.”
- 파이낸셜뉴스 (2025-02-13): “1500억원 안팎에 힐드로사이CC 매매계약을 체결한 후 17일 딜 클로징 예정이다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.