Mark Zuckerberg and Elon Musk Challenge Sam Altman’s $157 Billion OpenAI Over Profit Ambitions 
Trump Praised for $100B Investment ‘Win’ as SoftBank CEO Vows 100,000 Jobs in America! 
Lamborghini Pushes EV to 2029 Backing Belief That Luxury Market Still Needs More Time 
Dr. Joseph Mercola Debunks Common Weightlifting Myths: What You Really Need to Know for Effective Strength Training 
Effective Crisis Management for iGaming Brands 
xAI's Grok Model Goes Free, Redefining AI Accessibility for All X Users 
Trump Transition Team Unveils Plans to Rewrite Biden’s EV Strategy and Curb China’s Battery Dominance 
Bank of America Sees Fed Cutting Rates 25bp in December While Slowing Future Policy Adjustments 
Elon Musk Lights Up Tesla Buzz with $690.42 Price Target and $2 Trillion Market Cap Forecast 
NVIDIA Stock on Track for $170 by March: Mizuho Highlights Record AI Earnings as Key Driver 
Saudi Arabia Warns ‘No Israel Ties’ Unless Gaza War Ends as Trump Allies Pressure for Deal 
AMD’s Lisa Su Shuts Down Intel Merger Rumors, Declares AI’s Future Bright in TIME Exclusive 
McDonald's Korea is up for sale, and Dongwon Industries Co. is being reported to likely become the new owner. This is because the South Korean seafood company is eyeing the acquisition of the local unit of the world-famous fast-food chain brand.
Dongwon Industries' goal of acquiring McDonald's Korea is being seen as an attempt to boost its franchise food business. The company is part of the Dongwon Group, which operates a variety of businesses, including finance, food, marine, living, and even logistics. It is said to be hopeful that adding the chain to its portfolio will create good synergy for its business lines.
As per The Korea Times, Dongwon Industries participated in the preliminary bidding in the race to buy McDonald's Korea last month. It ended up as the only candidate, so recently, it has advanced to the price negotiation stage with the fast-food brand.
The negotiations happened after the first round of due diligence that was carried out last week. At this time, the McDonald's HQ in the United States owns a 100% stake in its Korean division.
The selling price is estimated to be about KRW500 billion or $399 million, but since this is not yet the definite price, it may be a bit lower in the final negotiation. Once a deal is reached, and papers are signed, Dongwon Industries will become the sole owner of McDonald's business in South Korea. But then again, it will still be required to pay a five percent royalty fee to the U.S. HQ.
Meanwhile, Pulse News reported that shares of Dongwon Industries went up almost 20% to KRW53,600 or $43 on Monday, Feb. 6, the day when the media reported about its acquisition bid for McDonald's Korea.
Business insiders said that the seafood company, which is also the holding unit of the Dongwon, is negotiating with the party that is managing the sale of McDonald's Korea. The company confirmed in its regulatory filing this week that it is looking into the possible acquisition deal, but at this time, there is no specific decision yet.
Photo by: Jonathan Marchal/Unsplash
