Mitsubishi ends 54-year partnership with Japan\’s KFC and will be acquired by Carlyle

Mitsubishi Corp. is exiting KFC\’s operations in Japan, ending a more than half-century relationship with the U.S. fast-food giant that began in the country in 1970.

Mitsubishi Corp. is exiting KFC\’s operations in Japan, ending a more than half-century relationship with the U.S. fast-food giant that began in the country in 1970.
Mitsubishi Corporation announced on May 20 that it would sell its entire 35% stake in KFC Holdings Japan Ltd. to American investment fund Carlyle for approximately 40 billion yen ($257 million). Group (Carlyle Group Inc.).
Carlyle said KFC Holdings Japan has not yet reached its full potential and plans to quickly open more stores and add new menu items to boost its corporate value.
The investment fund is expected to convert the company into a wholly-owned subsidiary.
The purchase period is from May 21st to July 9th.
Carlyle will acquire approximately 65% ​​of the shares held by entities other than Mitsubishi Corporation for approximately 95 billion yen, including on a TOB basis.
Mitsubishi Corporation will transfer its shares to Japan\’s KFC by the end of September for about 40 billion yen.
KFC Japan also expressed support for the TOB plan.
Carlyle has previously launched a deal in the fast food industry.
In early 2017, Carlyle teamed up with CITIC Group to acquire the 20-year operating rights of McDonald\’s China for US$2.08 billion to create today\’s \”Golden Arches.\”
At the end of last year, Carlyle Group announced that McDonald\’s Global agreed to acquire Carlyle\’s minority stake in McDonald\’s strategic cooperation companies in mainland China, Hong Kong and Macau.
After the transaction is completed, CITIC Consortium will continue to hold 52% of the shares and McDonald\’s Global\’s shareholding as a minority shareholder will increase from 20% to 48%.
It is reported that Carlyle sold all its shares in McDonald\’s China business for US$1.8 billion and achieved a return of 6.7 times in six years – one of their best transactions in China.
Carlyle announced important personnel appointments in the Asia-Pacific region in the first quarter of this year – Janine Feng will serve as Carlyle Investment Group\’s new vice chairman of the Asia-Pacific region (excluding Japan); Ling Yang has been appointed as Carlyle Head of China Investment Group.
Tracing the careers of two female executives, they have made great achievements in the M&A circle and have handled many well-known buyout cases.

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