Sumary of Lotte’s reshuffle indicates less likelihood of Morgan Stanley’s exit from Nolboo:
- A Nolboo restaurant selling “bossam,” boiled pork belly, and “budae jjigae,” sausage stew.
- Courtesy of NolbooBy Park Jae-hyukLotte Group’s appointment of former Nolboo CEO Ahn Se-jin as the new leader of the group’s hotel business in its latest reshuffle of top executives has unintentionally signaled that Morgan Stanley has become less likely to unload Nolboo in the near future.
- Nolboo is a Korean food restaurant franchise which was acquired by the U.S. investment bank’s private equity investment team here for about 120 billion won ($100 million) in 2011.Ahn has been known for his expertise in devising business strategies, as he previously worked for global consulting firms ― A.
- Kearney and AlixPartners ― and served as an executive in charge of strategies at LG and LS. Those who led Nolboo before Ahn built most of their careers at the company or other restaurant franchises.
- Morgan Stanley apparently tried to sell Nolboo for a price much lower than that what it paid to buy it, although both Nolboo and SL&C have denied it.