S.Korea's NHN Entertainment in talks over potential purchase of McDonald's unit

NHN

26/07/2016 08:37

SEOUL, July 26 (Reuters) - South Korea's NHN Entertainment 
Corp  181710.KS  said on Tuesday it was in talks with KG Group, 
parent of electronic payment service provider KG Chemical Corp 
 001390.KS , about potentially acquiring the South Korean unit 
of McDonald's Corp  MCD.N .  
    KG Group submitted a letter of intent to acquire the 
McDonald's unit and plans to be the acquiring party, while NHN 
Entertainment is expected to help fund the acquisition, South 
Korea's newspaper Korea Economic Daily reported earlier on 
Tuesday, citing unnamed investment banking sources.  
    An KG Group official authorised to speak to media could not 
be reached. NHN Entertainment declined further comment.  
    The potential interest follows submission of a letter of 
intent this year by South Korea's CJ Group, a 
food-to-entertainment conglomerate, to buy the unit. 
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 (Reporting by Joyce Lee; Editing by Clarence Fernandez) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: MCDONALDS SALE/SOUTHKOREA NHN ENT