이 기사는 2020년 06월 18일 08:00 thebell 에 표출된 기사입니다.

South Korea’s MP Group, which operates pizza chain Mr. Pizza, has hired Samil PwC to run an auction for a controlling stake in the company, sources said on June 15.

MP Group plans to sell a 49 percent stake currently owned by existing shareholders along with about 20 billion won ($16 million) worth of new shares, which in effect represent a combined 66 percent of the company. It will receive preliminary offers from potential investors until June 24.

The planned sale is a breakthrough for the Kosdaq-listed company, which faced a delisting warning and was suspended from trading on the bourse in 2017 when its former chairman Jung Woo-hyun was imprisoned due to alleged embezzlement and breach of trust. The grace period granted to the company for improvement in the management will be over this year.

MP Group could attract interest from potential buyers due to its major pizza chain Mr. Pizza, industry watchers said. Mr. Pizza had 277 stores nationwide including 18 directly operated stores in 2018, according to data from the Fair Trade Commission.

Industry watchers also expect the capital increase through the issuance of new shares as part of the transaction would help improve the company’s financial position. The company posted an operating loss last year.

Possible bidders include private equity firms looking to expand in the food and beverage sector as well as some industry buyers. After receiving preliminary offers, MP Group will select the shortlisted bidders with the final round of the bidding expected to follow soon.

(Reporting by Ar-rum Rho)