Hong Kong investment company Pacific Alliance Group (PAG) is bidding for a 100 percent share of South Korean burger chain Mom’s Touch & Co.
In July, Mom’s Touch’s owner, private equity group KL& Partners, recruited Bank of America Securities as a lead manager for the bidding process, hoping to get $801.9 million for the deal.
But with the purchasing frenzy having subsided in recent months, KL& Partners expects to close the Mom’s Touch sale at a reduced price.
Goldman Sachs, Yum!, Brands, and CJ Group, one of South Korea’s largest family-owned business enterprises, have expressed interest in the acquisition but did not participate in the bidding process.
Mom’s Touch, founded in 1998, has 1363 stores, the most among Korean fast-food chains.
It has operations overseas, including in Vietnam.
PAG’s strategy is to expand in Asian markets and purchased Gyro Holdings, the operator of a portfolio of restaurant and cafe brands in Japan, last year.


Booked to travel through the Middle East? Here’s why you shouldn’t cancel your flight
Woodside Energy Denies Exxon Mobil Takeover Talks Amid LNG Growth Focus
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns
Can your cat recognise you by scent? New study shows it’s likely
Disaster or digital spectacle? The dangers of using floods to create social media content
Why financial hardship is more likely if you’re disabled or sick
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details
How to support someone who is grieving: five research-backed strategies
Every generation thinks they had it the toughest, but for Gen Z, they’re probably right
Asian Currencies Steady as BOJ Raises Rates and Markets Await Fed Decision
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook
SpaceX Stock Gets $175 Target as Analysts See Massive Growth Ahead
Obayashi to Acquire Multiplex in $526M Expansion Deal
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated
Apple Signals Product Price Hikes Amid Rising Memory Chip Costs 



