Emart (Shinsegae Group) to acquire 100% of SK Wyverns (baseball club) for KRW 135.3bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $93m
- Stake
- 100%
- Implied 100%
- $93m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- SK Wyverns (baseball club) · Professional sports club
- Buyer
- Emart (Shinsegae Group) · SI
- Seller
- SK Telecom
- Structure
- —
- Announced
- Jan 26, 2021
- Closed
- —
- Stage
- Signed
Target
SK Wyverns is a KBO professional baseball club based in Incheon, wholly owned by SK Telecom, with annual revenue reported at around KRW 50bn including sponsor support.
Deal rationale
Shinsegae Group said it had been exploring a baseball club acquisition for years to integrate online and offline and expand its online business, noting the overlap between baseball fans and its core online shoppers, and said it would turn the ballpark into a 'lifestyle center' and pursue a multi-purpose facility including a dome in the long term. Both sides said the club's value was 'appropriately assessed through internal and external review.' SK Telecom did not state its reason for selling, saying it would focus on long-term support of amateur sports. The price comprised KRW 100bn for shares and KRW 35.28bn for land and facilities including the Ganghwa training ground, with all players, coaches and front-office staff retained.
Press coverage
- 뉴시스 (2021-01-26): “인수 가격은 토지와 건물 포함 1352억8000만원이다.”
- 스포츠경향 (2021-01-28): “주식 인수 대금 1000억원이고, 강화에 마련된 SK 2군 구장 등 토지 및 시설 대금이 나머지 352억8000만원이다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.