Shunned by 12 Buyers, Japanese Golf Company Sells for $3.5 Billion
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Japan's largest golf course owner never sank a putt during acquisition talks with six of the world's top private equity firms — three of them walked away immediately, and none put in a bid.
But on Wednesday Accordia Golf landed a hole in one: Fortress Investment Group — a fund backed by tech investment giant Softbank — spent $3.5 billion on its portfolio of courses, which sold for just $760 million five years ago. Does Fortress know something no one else does, or will it soon be begging for a mulligan?
Source Fool.com
