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Hong Kong fund to sell Japan, S.Korea Burger King business in deal over $1bln - source

  • 📰 Reuters
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Private equity firm Affinity Equity Partners is this week launching the sale of its Burger King fast-food businesses 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.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.

It comes as the consumer and retail sector faces tremendous challenges and disruption caused by the coronavirus pandemic.

 

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