Morgan Stanley Private Equity Asia has taken control of Korean restaurant franchiser Nolboo, a Nolboo spokesman said on Monday. The spokesman failed to comment on the size or value of the stake.Money Today reported earlier that the deal was worth 120 billion won ($108 million).Unlisted Nolboo, 90.4 percent owned by Chief Executive Kim Soon-jin, has about 700 restaurants, including branches in China, Singapore and Thailand.IBK Investment & Securities was advising on the sale, the spokesman added.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 1.36% or $-0.23/share to $16.72. In the past year, the shares have traded as low as $12.36 and as high as $31.04. On average, 28129900 shares of MS exchange hands on a given day and today's volume is recorded at 29340068.
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