, Korea

Affinity Equity Partners bags Burger King Korea for USD 188.44m

It inked the agreement with VIG Partners.

Private equity firm Affinity Equity Partners (AEP) has sealed the deal with VIG Partners, bagging a 100% stake for Burger King Korea.

According to reports by Korean news media, Hong Kong-based AEP purchased the fast food chain to the tune of KRW210b, or roughly USD 188.44m.

The purchase price is at a steep premium in comparison to the KRW110b VIG Partners paid Doosan Group for Burger King Korea in 2012.

Under VIG Partners’ ownership, the chain grew exponentially to over 240 chains across Korea.
 

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