Ambassador Hotel CEO Hubert Lee to play major role through separate company
Taiwan News
Date: 2017/06/01
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – McDonald’s Taiwan announced Thursday that the
A McDonald’s branch in Taiwan. (By Central News Agency)
management of its nearly 400 restaurants on the island had been taken over by a company controlled by Ambassador Hotel Group (國賓大飯店) CEO Hubert Lee (李昌霖).
Plans for the deal were announced several months ago, but the takeover, estimated at a value of NT$5.09 billion (US$168.8 million) had to be approved by several government bodies.
The hotel has emphasized it is not involved in the transaction, since Lee is taking a stake in the McDonald’s operations through a separate firm named De Yu Co. (德昱), in which he reportedly controls 70 percent. [FULL STORY]
