Morgan Stanley Private Equity Asia has acquired a controlling stake in Korean restaurant franchiser Nolboo, Reuters reported Monday. According to media reports, the deal was valued at roughly 120 billion won ($108 million). Nobloo has about 700 restaurants across Korea, China, Singapore and Thailand.
(Reuters) – Morgan Stanley Private Equity Asia has taken control of Korean restaurant franchiser Nolboo, a Nolboo spokesman said on Monday.
The spokesman declined to comment on the size or value of the stake.
Money Today reported earlier that the deal was worth 120 billion won ($108 million).
Unlisted Nolboo, 90.4 percent owned by Chief Executive Kim Soon-jin, has about 700 restaurants, including branches in China, Singapore and Thailand.
IBK Investment & Securities was advising on the sale, the spokesman added.