Chicken Company Pelicana Acquires Mr. Pizza

[Asia Economy Reporter Kiho Sung] Chicken company Pelicana is acquiring Mr. Pizza.

According to the food service industry on the 26th, MP Group, the operator of Mr. Pizza, announced yesterday that former chairman Woo-Hyun Jung and his son Min-Soon Jung have signed a contract to transfer management rights to the private equity fund 'Almus-TRI Restructuring Investment Association No. 1.'

The largest investors in this private equity fund are Pelicana and Shinjeong, holding a combined investment share of 69.3%.

The private equity fund plans to secure management rights by acquiring new shares issued by MP Group through two rounds of third-party allotment. The planned issuance exceeds 30 million shares, with an acquisition price of 15 billion KRW.

The contract includes a condition that the deposit will be converted into the acquisition payment after receiving the Korea Exchange's review result and notification of MP Group's listing maintenance decision.