Foods Corp. (JFC), one of the largest quick service food companies in the world, has divested its 55 percent stake in Chinese restaurant chain San Pin Wang to focus on its other Chinese ventures with greater potential.
JFC said on Tuesday its offshore investment unit Jollibee Worldwide Pte. Ltd. (JPWL) sold its 55 percent stake in Guangxi San Pin Wang Food and Beverage Management Co. Ltd. (SPW), operator of the San Pin Wang restaurant chain, back to Guangxi Zong Kai Food Beverage Investment Company Limited (GZK) for 90 million renminbi (RMB) or about P648.9 million.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.