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.


The pandemic is still disrupting young people’s careers
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
Thailand Inflation Remains Negative for 10th Straight Month in January
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Stuck in a creativity slump at work? Here are some surprising ways to get your spark back
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that
Can your cat recognise you by scent? New study shows it’s likely
Why financial hardship is more likely if you’re disabled or sick
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 



