F&F "No Basis for Exercising Preemptive Rights, Will Take All Measures to Protect Interests"
by Lee Seungjin
Published 19 Mar.2025 17:04(KST)
Updated 19 Mar.2025 17:20(KST)
F&F Responds to Reports on TaylorMade Acquisition
"No Decision Made Yet... Will Protect Our Rights"
On the 19th, F&F announced regarding TaylorMade, which is undergoing a management rights sale, that "there has been no decision made yet regarding our acquisition of TaylorMade."
In a clarification disclosure on the same day, F&F stated, "We will take all necessary measures to ensure that our rights and interests are not infringed upon."
Earlier, a media outlet reported that F&F plans to exercise its preemptive purchase rights for TaylorMade. It also mentioned that domestic financial firms such as L. Catterton, affiliated with Louis Vuitton Mo?t Hennessy (LVMH), and Meritz Securities are being considered as allies.
Centroide Investment, a private equity firm and the largest shareholder of TaylorMade, selected two global investment banks, JP Morgan and Jefferies, as financial advisors the day before. They are considering options such as management rights sales and initial public offerings (IPO) to recover their investment.
In 2021, Centroide formed a project fund to acquire TaylorMade for approximately $1.7 billion (about 2 trillion KRW at the time). Investors in the fund included F&F, Saemaeul Geumgo, the National Agricultural Cooperative Federation, and the National Credit Union Federation of Korea. F&F, which contributed the largest amount to this fund, secured rights such as preemptive purchase rights and consent rights for sales.
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