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E-Mart “Preparing to acquire the baseball team from several years ago … Expecting synergy effects with an overlapping customer base”
The reason for the sale of SK Wyverns, a professional baseball team that invested 100% of SK Telecom’s capital, was explained as “a massive decision for social development.”
On the 26th, Shinsegae Group’s E-Mart signed a memorandum of understanding to acquire 100% of the shares of SK Telecom and SK Wyverns.
The contract date for the formal transfer and transfer between the two companies is February 23.
With this, SK Wyverns, which was founded through the acquisition of Ssangbangwool Raiders in 2000, disappears after 21 years, and the E-Mart brand baseball team is launched again in March.
The acquisition price is KRW 135 billion, including KRW 100 billion in shares and KRW 35.2 billion for land and buildings, such as baseball practice fields.
Rather than sell the baseball equipment, SK Telecom put forward a long-standing plan to support amateur sports and would help improve the international status of Korean sports by raising global competitiveness.
He added that he will create a task force to promote sports in Korea and consider discovering and investing in future sports in combination with advanced information and communication technologies (ICT) such as augmented reality (AR) and virtual reality (VR).
It is a policy to simply reduce it and contribute to the win-win development of amateur sports.
The reason for the sale of Wyverns was spilled, which has established itself as a prestigious club despite the fact that SK Telecom is in a financial crisis and does not need a quick change for the operation of the baseball team.
An SK Telecom official said: “We have been thinking about the essential question why we give it to others when we can operate the baseball team well.” “Shinsegae Group has made an attractive acquisition proposal, and by leveraging the merits of a distribution company, it can better manage the baseball team. I thought there would be.”
For example, it was difficult for SK Telecom to build a marketing facility in the form of a theme park that combines the merits of a baseball field and E-Mart by analyzing the consumer trend of baseball fans.
Shinsegae Group Vice Chairman Jeong Yong-jin said, “The retail industry rival will be a theme park or a baseball field,” ahead of the opening of Starfield Hanam in August 2016. We look forward to opening a distribution based in experience. era, SK Wyverns took over and took action.
An SK Telecom official said: “Because we have also operated the baseball team well and have no management difficulties, if an acquirer such as a private equity fund came along and proposed to acquire the baseball team, we would have rejected it in one go. measure. “It was formed,” he added.
Another SK Telecom official said: “It is a difficult situation in various fields due to the consequences of the new coronavirus infection (Corona 19).” “In order to better support the amateur sports we currently support, such as fencing, ice skating and cycling for the disabled, and to achieve a balanced development of the sport. As one of the methods for this, we decided to sell the baseball equipment.”
SK Telecom said that the decision to sell the baseball equipment was not made in the top-down method of SK Group, but in the bottom-up method proposed by Telecom. He explained that it was irrelevant.
Choi Tae-won, director of SK Group and president of the Korean Handball Association, was elected vice president and member of the executive committee at the OCA general meeting last December and made a full name for himself on the international sports scene.
President Choi is OCA’s new organization and has served as vice president of the sports organization that oversees 90 sports alliances in Asia.
Shinsegae Group said: “We have been preparing to take over the baseball team for many years” and “I contacted several clubs, but we quickly finished the acquisition discussion with SK.”
Although it has not been revealed which club it is, the baseball world notes that the parent company has been in contact with Doosan Bears and Kiwoom Heroes, whose governance structure is unclear.
Shinsegae Group added, “We hope that baseball fans and E-Mart consumers will overlap and enjoy a synergy effect with the operation of the baseball team,” adding, “We plan to run a task force to apply for membership. KBO and finish production of the team names and emblems in March. “
Wyverns’ team, which begins winter training at Kang Chang-Hak Stadium in Seogwipo, Jeju Island, starting on February 1, wears a uniform with the group’s name ” K ” until a new uniform is released. .
/ yunhap news
