Private equity firm MBK Partners has entered into a share purchase agreement to divest its majority interest in the golf course operator Golfzon County. The transaction, which includes a consortium consisting of The Sienna Group and Ciel Asset Management, values the enterprise at approximately 1.8 trillion won, equivalent to 1.35 billion US dollars. However, the deal has encountered significant opposition from Golfzon Holdings, the company's second-largest shareholder. Golfzon Holdings is currently contesting the authority of MBK Partners to execute the sale of the business. The dispute centers on the terms of the agreement, as the proposed transaction would also necessitate the divestment of shares held by Golfzon Holdings itself.
Source : The Korea Herald
Photo : The Korea Herald
