Array
Homegrown fast-food giant Jollibee Foods Corp. takes full ownership of Michelin-starred restaurant chain Tim Ho Wan (THW) as the company led by tycoon Tony Tan Caktiong intensifies its presence in the Chinese cuisine segment.
In a stock exchange filing on Tuesday, JFC said its fully owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL), had signed an agreement with a subsidiary of Titan Dining LP (Titan Fund) to buy out the latter’s minority shareholders for around P892.3 million (20.2 million Singapore dollars, or SGD).
JWPL has held a 92-percent stake in Titan Fund, the private equity fund that owns the THW brand and company-owned THW stores, since January this year.
