SEOUL (Reuters) - South Korean food-to-entertainment conglomerate CJ Group (KS:001040) on Tuesday said it did not enter the latest round of bidding for McDonald's Corp's (N:MCD) South Korean operations.
A consortium with Maeil Dairy Industry Co Ltd (KQ:005990) and another group with KG Group and NHN Entertainment Corp (KS:181710) entered binding bids last week, M&A media Market Insight reported on Monday, citing investment banking sources.
A Maeil spokesman declined to comment. A KG Group spokesman could not be reached. A NHN spokesman said KG Group was the bidding party, and NHN is expected to only invest funds.