Thailand’s MK Group buys into seafood restaurant chain
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Thailand’s MK Restaurant Group will purchase a 65 per cent shareholding in the Lam Charoen Seafood chain.
The 40-year-old restaurant brand, which has 26 branches across Thailand, will sell for THB2.06 billion (US$67.13 million), according to an announcement posted to the Thai stock exchange last Friday.
The acquisition, which will most likely close by December, will take place via MK Restaurant Group subsidiary Catapult, funded by working capital.
MK Restaurant Group currently operates more than 400 locations under several brand names including MK, Yayoi, Miyazaki, Hakata, Bizzy Box, Le Petit and MK Harvest.
Questions & Answers
Q.What is the total value of MK Restaurant Group's acquisition of the Lam Charoen Seafood chain?
What is the total value of MK Restaurant Group's acquisition of the Lam Charoen Seafood chain?
The acquisition of the 65 per cent shareholding in Lam Charoen Seafood is valued at THB2.06 billion, which is equivalent to US$67.13 million. This figure was announced on the Thai stock exchange last Friday.
Q.Which subsidiary of MK Restaurant Group will be making this purchase?
Which subsidiary of MK Restaurant Group will be making this purchase?
The acquisition will be carried out by Catapult, a subsidiary of MK Restaurant Group. The purchase will be funded using MK Restaurant Group's existing working capital.
Q.How many locations does MK Restaurant Group currently operate under its various brands?
How many locations does MK Restaurant Group currently operate under its various brands?
MK Restaurant Group currently operates more than 400 locations. These include branches under several brand names such as MK, Yayoi, Miyazaki, Hakata, Bizzy Box, Le Petit, and MK Harvest.
Q.When is the acquisition of Lam Charoen Seafood expected to be finalised?
When is the acquisition of Lam Charoen Seafood expected to be finalised?
The acquisition of the Lam Charoen Seafood chain is most likely expected to close by December. An exact date was not provided in the announcement to the Thai stock exchange.
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