PwC provided advisory on the sale of Seoul Rugby Stadium and the Oryu-dong land for Hyunsong Education

PwC Korea Deals team acted as sell-side advisor in the sale of the Seoul Rugby Stadium and the Oryu-dong land owned by Hyunsong Education. Both the Deal team and Hanwha Investment & Securities were chosen as the buy-side advisory group to oversee the entire sales process, encompassing marketing, structuring, and the bidding procedures.

The asset is under the supervision of the Seoul Metropolitan Office of Education, which granted permission for the asset's sale within a year. Multiple stakeholders, including land tenants, the Rugby Association, and the Guro Office, were engaged and reached a consensus on the district's development plan. Furthermore, a legal dispute arose concerning the development plan, requiring careful handling.

Upside for this asset sale lies in its Seoul location and the significant land size available for development. Nonetheless, there were associated risks, including oversight by officials and the involvement of various stakeholders. The key to the success of this transaction was close collaboration with legal advisory teams at each phase, ensuring a fair and efficient process. Consequently, the deal sale was made beyond expected valuation and was successfully concluded in March 2022.

The PwC team advising on the deal was led by Chang-Yoon Choi and Ji-Yun Hong.