Regulator approves Shakey’s new unit


SHAKEY’S Pizza Asia Ventures, Inc. (SPAVI) said Tuesday it had secured the green light of the Securities and Exchange Commission (SEC) for the incorporation of a new company tasked to distribute and market its wholesale or retail products.

Shakey’s said in a disclosure to the stock exchange the plan was approved by the Commission on December 1, 2017.

It said that upon approval, SPAVI will establish Shakey’s Pizza Commerce, Inc. to engage in the business of buying, selling, distributing and marketing wholesale or retail goods, commodities, and merchandise.

The unit will also serve as trader, importer, exporter, distributor, and manufacturer’s representative or commercial and general agents.


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