Jollibee Foods Corp., one of the biggest quick service food companies in the world, has completed its divestment of shareholdings in the Chinese restaurant chain San Pin Wang as a part of the strategy to reorganize its international ventures and focus on building its larger businesses.
In a disclosure to the Philippine Stock Exchange on Tuesday, JFC said it completed via offshore investment unit Jollibee Worldwide Pte. Ltd. (JWPL) the divestment of its 55-percent shareholding in Guangxi San Pin Wang Food and Beverage Management Company Limited.
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