Hong Kong fund to sell Japan, S.Korea Burger King business in deal over $1bln - source [Reuters]
McDonald's Corporation (MCD)
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Source: Reuters
in South Korea and Japan, in a deal that could fetch more than $1 billion, a person with knowledge of the matter told Reuters. Hong Kong-based Affinity has appointed Goldman Sachs to run the sale, which is targeting both private equity investors and strategic buyers, said the person, who declined to be identified as the information is confidential. The bank declined to comment. Affinity bought full control of Burger King South Korea in 2016 for about $170 million and a year later acquired the American fast-food brand's Japan franchise. The South Korean business reported 680 billion won ($572 million) in revenue in 2021, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) at 80 billion won ($67 million), said the person, adding its adjusted EBITDA in 2022 is expected to reach 100 billion won. Burger King Japan's adjusted EBITDA in 2021 was 700 million yen ($6 million), the person said. Global fast-food chains such as McDonald's and Yum! Br
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website