Morgan Stanley Private Equity takes control of S Korean Nolboo.
7 November 2011 - Morgan Stanleya[euro](tm)s (NYSE:MS) Hong Kong-based unit Morgan Stanley Private Equity Asia has bought a controlling interest in Korean restaurant operator Nolboo, a spokesman for the latter told Reuters on Monday.
The spokesman would not reveal details on the size of the acquired stake or the price, but according to an earlier report by Money Today the transactiona[euro](tm)s value was KRW120bn (USD107.4m/EUR78m).
Nolboo runs some 700 restaurants including its network in China, Singapore and Thailand. The company is 90.4% controlled by chief executive Kim Soon-jin, Reuters said.
IBK Investment & Securities acted as its advisor on this deal, Nolbooa[euro](tm)s spokesman said.Country: , South KoreaSector: Hotels/Restaurants/Casinos/CateringTarget: Nolboo Co LtdBuyer: Morgan Stanley Private Equity Asia LimitedVendor: Kim Soon-jinType: LBOStatus: ClosedComment: Deal size speculated at USD107.4m.