Hong Kong fund to sell Burger King stakes in South Korea, Japan

Affinity Equity Partners will start bidding soon that could reach $874 million

20220117 Burger King

Burger King sales have benefited from the surge in takeaways during the COVID-19 pandemic, raising the value of the business.  © Reuters

Nikkei staff writers

TOKYO -- Hong Kong-based Affinity Equity Partners plans to sell its Japanese and South Korean Burger King businesses, Nikkei has learned. It will soon start bidding and the combined sales price could amount to around 100 billion yen ($874 million) .

The move comes as sales at hamburger chains are rising thanks to increased demand for takeaways, despite the COVID-19 pandemic adversely affecting the food service industry as a whole.

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