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29 Jul 2011

Corporate M&A Team Represents Fila Korea in the Acquisition of Acushnet Company

The Corporate M&A Team represented Fila Korea and a PEF managed by Mirae Asset Maps Asset Management in the USD 1.225 billion acquisition of Acushnet Company from Fortune Brands. Acushnet Company is the largest golf equipment manufacturer in the world and features the iconic Titleist and FootJoy brands.

This deal was financed directly by Fila Korea and domestic and overseas financial institutions, and indirectly through equity investment by Fila Korea, Mirae Asset PEF and Woori Blackstone PEF. Financing methods included convertible bonds, bonds with warrants and convertible redeemable preferred shares, and financing was completed within two months of the execution of the sale and purchase agreement.

Yulchon provided advice on the entire deal, including the review of contracts regarding Fila Korea"s domestic financing deal, a U.S. subsidiary"s overseas financing deal, review of contracts and permits relating to Fila Korea and Mirae Asset PEF"s equity investment in the U.S. subsidiary, coordination of the merger report filings in various countries, and the closing of the deal.

Partners Sung Wook Eun and Jae Hyun Park, associate Yeun Seok Choi and partner Seuk Joon Lee from the Antitrust Team handled this project.

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