April 20, 2024
Deals
KG Group, NHN Entertainment drop bid for McDonald’s
[THE INVESTOR] KG Group and NHN Entertainment have dropped out of the race for acquiring McDonald’s South Korean operations.
On Oct. 25, KG Group said in a regulatory filing that it is dropping its bid due to differences with McDonald’s.
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NHN Entertainment, which partnered with KG Group in the bid, also confirmed the development, saying that related procedures cannot be taken further.
Industry sources say a consortium formed by Maeil Dairies and Carlyle Group is most likely to be named preferred bidder for acquiring McDonald‘s Korea.
Some 400 McDonald’s outlets in Korea have been put up for sale. The deal price is valued at about 500 billion won (US$439.44 million).
By Choi He-suk (cheesuk@heraldcorp.com)
