Jollibee Foods Corp. (JFC) has completed its $99-million acquisition of 40 percent stake in US-based burger chain Smashburger.

“Further to its October 13, 2015 disclosure, JFC disclosed today that [its] wholly-owned subsidiary, Bee Good! Inc. (BGI) has completed its acquisition from Smashburger Master LLC (Master) of 40 percent of the outstanding units of SJBF LLC, the parent company of the entities comprising the Smashburger business,” the company said in a disclosure.

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