CJ Group pulls out of race for McDonald's S.Korea operations

CJ

20/09/2016 03:14

SEOUL, Sept 20 (Reuters) - South Korean 
food-to-entertainment conglomerate CJ Group  001040.KS  on 
Tuesday said it did not enter the latest round of bidding for 
McDonald's Corp's  MCD.N  South Korean operations. 
    A consortium with Maeil Dairy Industry Co Ltd  005990.KQ  
and another group with KG Group and NHN Entertainment Corp 
 181710.KS  entered binding bids last week, M&A media Market 
Insight reported on Monday, citing investment banking sources.  
    A Maeil spokesman declined to comment. A KG Group spokesman 
could not be reached. A NHN spokesman said KG Group was the 
bidding party, and NHN is expected to only invest funds. 
     
 
 (Reporting by Joyce Lee) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: MCDONALDS SALE/SOUTHKOREA