Vogo agrees whopper deal to take over Burger KingKorean private equity fund Vogo Fund will take over the local chain of Burger King from franchise restaurant operator SRS Korea for about 100 billion won ($88.7 million) this year, industry sources said yesterday.
According to the sources, the local fund has completed negotiations to buy the chain of global fast food restaurant Burger King in Korea with Doosan Group, which has SRS Korea under its wing, and will sign a preliminary deal for the acquisition some time soon. The deal is expected to be completed within this year, the sources said.
Vogo Fund had originally planned to buy the chain of another global fast food restaurant, KFC, in the country along with the Burger King chain, but excluded it from its takeover list, the sources said.
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