Moa Construction named as preferred buyer for Club Mow CC Purchase price is record $154 million
Translated by Ryu Ho-joung 공개 2020-07-01 08:00:29
이 기사는 2020년 07월 01일 08:00 thebell 에 표출된 기사입니다.
Moa Construction has been selected as the preferred buyer for Doosan Heavy Industry & Construction’s golf resort Club Mow Country Club, sources said on June 29.The purchase price is a record 185 billion won ($154 million), which is much higher than the expected value of between 140 billion won and 160 billion won. The two sides will likely sign an agreement in July, with the deal expected to be wrapped up by the end of August.
The sale would bring some respite to Doosan Group which is struggling to sell its businesses and assets to address its cash issues. Deloitte Anjin helped the South Korean conglomerate, which hoped for a speedy sale of Club Mow CC, run the auction.
Despite the auction’s tight timeline, about 20 potential buyers made preliminary offers and several of them reportedly submitted final offers that exceeded 160 billion won, reflecting strong investor interest in the 27-hole golf course.
By contrast, Doosan Solus, one of the businesses to be offloaded by the conglomerate, is having difficulties finding a buyer. The sale process is being led by Samil PwC.
The company, which produces battery copper foils and OLED materials, had initially attracted attention from investors due to its growth potential amid the growth in the secondary battery market. But now interest has dwindled because of a valuation gap and the effects of the fallout from the Covid-19 lockdown.
Doosan Group is seeking a valuation of 1.4 trillion won including debt for the business, which most of the potential investors consider expensive. Prospective buyers also raised concerns about the auction’s tight timeline, particularly in a situation where on-site due diligence on the target’s plant in Hungary is impossible with Covid-19 travel restrictions in place.
(Reporting by Se-hun Jo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]인니 정부, 친기업 정책 드라이브에 뜨거운 관심 '체감'
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]"유망 스타트업 양성소, 글로벌 투자 거점 부상"
- [2023 더벨 글로벌 투자 로드쇼-인도네시아]"철저히 투자금융 관점서 봐야, 전략적 접근시 유리"
- [2023 더벨 글로벌 투자 로드쇼-베트남]신용보증기금, 중기 베트남 진출 지원에 팔 걷었다
- [2023 더벨 글로벌 투자 로드쇼-베트남]인프라·산업 투자 증가, 부동산 가격 상승 견인
- [2023 더벨 글로벌 투자 로드쇼-베트남]떠오르는 신규 투자처 '온실가스 감축 프로젝트'
- [2023 더벨 글로벌 투자 로드쇼-베트남]VITASK, 베트남 현지 기업 생산·기술력 개선 앞장
- [2023 더벨 글로벌 투자 로드쇼-베트남]급성장 '핀테크' 산업, 전자 결제·P2P·초단기 분야 각광
- [2023 더벨 글로벌 투자 로드쇼-베트남]진출 계획시 세무 접근 필요, '우대세율·감면' 활용해야 '득'
- [2023 더벨 글로벌 투자 로드쇼-베트남]한국이 투자 주춤할 때 태국은 과감히 '베팅'