By Kang Doo-soon, Maeil Business News Korea Hong Kong-based private equity firm Affinity Equity Partners (AEP) acquired Burger King Korea from its sole shareholder VIG Partners (formerly known as Vogo Investment Group) at 210 billion won ($169.5 million), according to the investment banking (IB) industry Thursday. Photo courtesy of Pulse/Maeil Business News Korea Affinity signed an agreement on the fast-food franchise with VIG Partners to purchase a 100 percent stake from the South Korean private equity firm for 210 billion won, 2.5 times what VIG Partners had paid Doosan Group to acquire operations in the fast-food chain three years ago. The figure is 11 times higher than the company’s earnings before interest, tax, depreciation and amortization (EBITDA) of 18.4 billion won last year. Photo courtesy of Pulse/Maeil Business News Korea VIG Partners pocketed a handsome 30 percent internal rate of return (IRR) from the deal. The buyout firm has greatly [...]
