Jollibee amends deal to increase stake in US-based Smashburger | ABS-CBN
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Jollibee amends deal to increase stake in US-based Smashburger
Jollibee amends deal to increase stake in US-based Smashburger
ABS-CBN News
Published Mar 14, 2017 06:58 PM PHT
MANILA - Jollibee Foods Corp. said Tuesday it has amended a previous agreement with US-based hamburger chain Smashburger to allow the purchase of additional shares.
MANILA - Jollibee Foods Corp. said Tuesday it has amended a previous agreement with US-based hamburger chain Smashburger to allow the purchase of additional shares.
The amendment allows Jollibee's wholly-owned subsidiary Bee Good Inc. to purchase more shares in Smashburger parent SJBF between 2018 to 2021, Jollibee told the stock exchange.
The amendment allows Jollibee's wholly-owned subsidiary Bee Good Inc. to purchase more shares in Smashburger parent SJBF between 2018 to 2021, Jollibee told the stock exchange.
Bee Good will be entitled to purchase from Smashburger an additional 45 percent of SJBF shares, from the previous agreement of 35 percent, it said.
Bee Good will be entitled to purchase from Smashburger an additional 45 percent of SJBF shares, from the previous agreement of 35 percent, it said.
Jollibee Foods, the largest Asian food service company, bought a 40-percent stake in Smashburger in 2015.
Jollibee Foods, the largest Asian food service company, bought a 40-percent stake in Smashburger in 2015.
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Jollibee shares were up 0.10 percent to P197 on Tuesday.
Jollibee shares were up 0.10 percent to P197 on Tuesday.
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