Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) has agreed to invest 300 billion won ($275 million) in South Korean fried chicken restaurant chain BHC Group, valuing the franchise at 1.8 trillion won ($1.6 billion), according to a report.
Quoting investment banking sources, The Korea Economic Daily reported on Dec 16 that OTPP recently signed an agreement to buy shares in a special purpose company (SPC) that owns BHC, from its existing shareholders including Asia-based private equity firm Elevation PE.
The SPC was formed in 2018 by BHC Chairman Park Hyun-jong, MBK Partners’ inaugural Special Situations Fund (SSF), and Elevation PE to acquire the chicken franchise for 680 billion won ($617 million).
