FASTFOOD giant Jollibee Foods Corp. will soon be taking over control of US-based Smashburger following the signing of a $100 million (around P5 billion) share-purchase agreement (SPA) with the brand’s holding firm.
Jollibee told the Philippine Stock Exchange on Thursday its wholly-owned subsidiary Bee Good! Inc. has signed an SPA with Smashburger Master LLC (Master) for an additional 45 percent stake in Smashburger, boosting its ownership to 85 percent from 40 percent.
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