PaganiCA Country Club (CC), a public golf course in Chuncheon, Gangwon, was finally acquired by real estate specialist Daom Holdings. About a month after being selected as the preferred bidder, it signed the main contract and completed the balance payment within a month. Through the acquisition of PaganiCA CC, Daom Holdings formed a tourism belt connecting Chuncheon–Cheongju, North Chungcheong–Gimcheon, North Gyeongsang.
According to the investment banking (IB) industry on the 5th, Daom de Noel, an affiliate of Daom Holdings, recently completed the acquisition of PaganiCA CC. PaganiCA CC has been operating under the name "Serenity Gangchon" since last month.
Previously, ST Golf, the sale manager for PaganiCA CC, selected Bifi Asset Management as the preferred negotiating partner in Aug. The sale price is 135 billion won, about 7.5 billion won per hole.
The preferred bidder was known as Bifi Asset Management, but the party actually providing funds and taking on operations is Daom Holdings. Including taxes and other expense, a total of 150 billion won was invested to become the new owner.
Industry sources said Chair Kim Ju-young of Daom Holdings personally led the deal. Kim entered the real estate development business in the early 2000s and grew Daom Holdings into a high value-added mixed-asset development and operations company.
Daom Holdings currently owns and operates the 27-hole Podo CC in Gimcheon, North Gyeongsang, and the 27-hole Serenity CC in Cheongju, North Chungcheong. It is also developing integrated resorts in Cheongju, Samcheok, Gangwon, and Gyeongju, North Gyeongsang.
This transaction was arranged by the sale manager ST Golf. ST Golf finalized the preferred bidder in a month and completed the signing of the sales contract. CEO Shim Jae-hoon, who leads ST Golf, previously led multiple large-scale golf course M&A deals at Anjin and Samjeong accounting firms.