RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Instagram Outage Disrupts Thousands of U.S. Users 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
McDonald's Korea is up for sale, and Dongwon Industries Co. is being reported to likely become the new owner. This is because the South Korean seafood company is eyeing the acquisition of the local unit of the world-famous fast-food chain brand.
Dongwon Industries' goal of acquiring McDonald's Korea is being seen as an attempt to boost its franchise food business. The company is part of the Dongwon Group, which operates a variety of businesses, including finance, food, marine, living, and even logistics. It is said to be hopeful that adding the chain to its portfolio will create good synergy for its business lines.
As per The Korea Times, Dongwon Industries participated in the preliminary bidding in the race to buy McDonald's Korea last month. It ended up as the only candidate, so recently, it has advanced to the price negotiation stage with the fast-food brand.
The negotiations happened after the first round of due diligence that was carried out last week. At this time, the McDonald's HQ in the United States owns a 100% stake in its Korean division.
The selling price is estimated to be about KRW500 billion or $399 million, but since this is not yet the definite price, it may be a bit lower in the final negotiation. Once a deal is reached, and papers are signed, Dongwon Industries will become the sole owner of McDonald's business in South Korea. But then again, it will still be required to pay a five percent royalty fee to the U.S. HQ.
Meanwhile, Pulse News reported that shares of Dongwon Industries went up almost 20% to KRW53,600 or $43 on Monday, Feb. 6, the day when the media reported about its acquisition bid for McDonald's Korea.
Business insiders said that the seafood company, which is also the holding unit of the Dongwon, is negotiating with the party that is managing the sale of McDonald's Korea. The company confirmed in its regulatory filing this week that it is looking into the possible acquisition deal, but at this time, there is no specific decision yet.
Photo by: Jonathan Marchal/Unsplash
