April 20, 2024
Deals
Hollys Coffee to short-list bidders for October final bid
[THE INVESTOR] Nearly ten bidders turned in letters of intent for the sale of Hollys F&B, the operator of coffee chain Hollys Coffee, at the preliminary bidding that closed Aug. 25, according to news reports.
Although the names and prices are to remain undisclosed, strategic investors from China and Thailand as well as financial investors from South Korea, mainland China and Hong Kong showed interest, according an official from Hollys.
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Hollys Coffee shop in Vietnam opened last year |
Deutsche Bank is overseeing the sale of the entire stake of IMM Private Equity owned through special purpose corporation Crown Limited. It took over the food and beverage company in 2013 with 45 billion won (US$40.39 million) and has increased its stake to 91.82 percent with an additional 37 billion won investment. The estimated sales price is between 200 billion won and 300 billion won.
After short-listing the candidates next week, a binding bid will be carried out in mid-October.
By Hwang You-mee (glamazon@heraldcorp.com)
