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5 Sep 2017

Provided Legal Advice on BGF Retail’s Investment in Iran as a Master Franchisor

Yulchon advised BGF Retail on its master franchise project in Iran.


BGF Retail entered into the master franchise agreement with Entekhab Investment Group, one of the largest enterprises in Iran and its Iranian subsidiary Ideh Entekhab Iranian Chain Store. Through this transaction, BGF Retail is entitled to receive the initial fee of EUR 3 million and additional royalties calculated based on the increase in number of chain stores and its revenues. BGF Retail participated in the capital increase of Ideh Entekhab Iranian Chain Stores by subscribing to newly issued shares resulting in BGF Retail holding a 25% equity interest on a fully diluted basis. BGF Retail will participate in the operations of the convenience store chain in Iran by closely monitoring its franchisee.


Yulchon advised on all aspects of the transaction, including due diligence, execution of the transaction documents such as the master franchise agreement, shareholders agreement and share subscription agreement and other legal issues related to the closing of the transaction.


This deal was handled by Tong-chan Shin, Beom June Kim, Kyu Dong Kim and Young Hoon Mok

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