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South Korea: KG Group loses in McDonald’s bid

By  |  September 26, 2016

South Korea conglomerate KG Group announced that its consortium with NHN Entertainment Corp was not chosen as the preferred bidder to buy McDonald’s Corp South Korean business.

In a bid to cap escalating costs and restrain slumping top line, McDonald’s is aiming to sell off some 2,800 of its restaurants in China, Hong Kong, and South Korea to franchisees in the regions.

 

In South Korea, the consortium representing private equity firms under Carlyle Group, as well as South Korean milk producer and restaurant operator Maeil Dairy Industry Co., are considered top of the line to take over McDonald’s South Korean units up for sale.

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