Asia-focused private equity firm Orchestra Private Equity is reportedly divesting its South Korean KFC operations for about $280 million, while fintech firm Aspire said its unit has secured a licence to launch an investment tool in Singapore.
Orchestra PE seeks $280m from sale of KFC’s Korean operations
Orchestra Private Equity, an Asian lower mid-cap buyout firm, has started divesting its South Korean KFC operations, seeking around 400 billion won (about $280 million), The Korea Economic Daily reported on Thursday.
The PE firm had bought a 100% stake in the fast food chain for around $50 million from South Korea’s KG Group in 2023. The deal included the whole ownership of KFC Korea, alongside its domestic business licence.
According to the report, the Seoul-based buyout firm has hired Samil PwC to manage the sale, targeting approximately 10 times earnings before interest, taxes, depreciation, and amortization (EBITDA). Since the acquisition, KFC Korea posted steady financial growth, reporting 2024 sales growth of 18% year-on-year to 292 billion won and EBITDA rising 47%, boosted by 15 new outlets nationwide, according to the report.
Aspire unit secures capital markets service licence in SG
Fintech firm Aspire announced that its unit, ASG2 Pte Ltd, has secured a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS) to offer regulated investment solutions to businesses.
In a statement, Aspire said the CMS licence paves the way for the launch of Aspire Yield, a new investment product embedded in its business account platform. Aspire Yield offers startups and small firms access to money market funds managed by top Singapore asset managers, with no minimum investment, no lock-up period, and next-day liquidity.
CEO Andrea Baronchelli said Aspire Yield is a milestone in helping small firms manage and grow their capital. “We are levelling the playing field for global startups and small businesses,” he said.
Last year, Aspire secured a $79.15-million investment from its US holding company. It also raised $100 million in its Series C round in 2023 from Lightspeed, Sequoia Capital SEA, PayPal, Tencent, LGT Capital Partners,
