Maeil Dairies opts out of McDonald’s Korea bid

[THE INVESTOR] Maeil Dairies has shelved its plans to bid for McDonald’s Korea in a consortium with Carlyle Group, according to news reports on Oct. 27. 

It was the last remaining bidder after all potential candidates, including CJ and NHN Entertainment, dropped out of the race to acquire the fast-food chain’s operations here that has over 400 outlets, and was estimated to be worth 500 million won (US$439.44 million). 

Mail Diaries had teamed up with the US private equity fund manager that is eyeing the McDonald’s operation rights not only here but also in mainland China and Hong Kong. Carlyle is reportedly seeking another partner. 

The consortium was not been able to agree on conditions for the acquisition. 

“It is difficult to confirm the details as the US headquarters is in charge of the deal, but the sale is still ongoing,” said an official at McDonald’s Korea. 

By Hwang You-mee (glamazon@heraldcorp.com)