PwC provided advisory on the acquisition of Kumho Resort for Kumho Petrochemicals

PwC Korea Deals team served as a buy-side advisor for Kumho Petrochemicals in an auction deal involving the acquisition of 100% of Kumho Resort shares held by Asiana Airlines and its affiliates.

Kumho Resort oversees the operation of four condominiums located in Tongyeong, Jeju, Hwasun, and Seorak, as well as three spa facilities in Jeju. In addition, it manages prestigious country clubs, such as Asiana CC and Weihaipoint CC and resort. Weihaipoint CC and resort have been recognized as one of the top 64 Golf Courses in Asia in 2020.

In order to successfully conclude this M&A, PwC provided advisory services to Kumho Petrochemicals for acquiring Kumho Resort. Leveraging PwC's extensive experience in the leisure industry and expertise in M&A, this acquisition was accomplished amid intense competition and within set timelines.

Utilizing their industry expertise, the Deal team successfully concluded the transaction for Kumho Petrochemicals. The client expressed satisfaction with the smooth SPA process, and subsequent to the acquisition, Deals and Assurance X-Los team was actively involved in providing post-acquisition financial advisory services.

The PwC team advising on the deal was led by Sung-Kun Jung (Deals) and Taeg-Hyun Hwang (Assurance).