The China Post
Date: March 29, 2017
By: The China Post news staff
TAIPEI, Taiwan — The Investment Commission (投審會) of the Ministry of Economic
Affairs (MOEA) approved Tuesday a bid by the company invested by Ambassador Hotel President Hubert Lee (李昌霖) to acquire McDonald’s franchise and assets in Taiwan.
The investment is estimated to be worth up to NT$5.09 billion, reports say. The proposal must still undergo review by the Fair Trade Commission.
Investment Commission Executive Secretary Emile Chang (張銘斌) said the FTC’s approval was needed because Ambassador Hotel, which Lee manages, is in part a food and beverage service business.
On the MOEA’s business registration website, Lee is listed as a representative of De Yu Co. Ltd. (德昱股份有限公司), the company that acquired the management rights for the American fast food chain in Taiwan. [FULL STORY]