CJ Group bids for McDonald’s Korea

1 min readUpdated Jul 4, 2016Jul 4, 20168:00 AM

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South Korean food-to-entertainment conglomerate CJ Group has submitted a letter of intent to buy fast-food chain McDonald’s Korea.

Details have yet to be decided, but the deal could be worth 300 billion won ($256.86 million) to 500 billion won, says the Korean Economic Daily newspaper, quoting investment banking sources.

McDonald’s Corp headquarters in the US announced in March it was reorganising its business in Asia by bringing in partners to own the restaurants within a franchise framework.

Describing its aim to be a global lifestyle company, CJ Group aims to provide healthy, happy and convenient lifestyles based on its four core businesses: food and food services, bio and pharmaceuticals, entertainment and media, and home shopping and logistics.

CJ’s business divisions include cinema chain CGV and bakery-cafe network Tous le Jours.

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Questions & Answers

Which entity currently owns McDonald's Korea?

McDonald's Corp headquarters in the US currently owns McDonald's Korea. They are looking to reorganise their business in Asia by bringing in partners to own restaurants within a franchise framework.

What is CJ Group's primary business aim?

CJ Group aims to be a global lifestyle company. Their goal is to provide healthy, happy, and convenient lifestyles based on their four core businesses: food and food services, bio and pharmaceuticals, entertainment and media, and home shopping and logistics.

What other businesses does CJ Group own?

CJ Group's business divisions include the cinema chain CGV and the bakery-cafe network Tous le Jours. They are a South Korean food-to-entertainment conglomerate.

What is the estimated value of the potential deal?

The potential deal to buy McDonald's Korea could be worth between 300 billion won and 500 billion won. This figure is based on quotes from investment banking sources, as reported by the Korean Economic Daily newspaper.

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