Jollibee Foods Corp., the Philippines ’ largest fast food chain operator, has decided to buy a 49-percent stake worth 25 million USD in the Viet Thai International Joint Stock Company of Vietnam.
Furthermore, Viet Thai will also receive a loan advance of 35 million USD to be repaid in 2016 with an interest rate of 5 percent per annum, sources said on May 22.
Viet Thai, the owner and operator of Highlands Coffee, plans to use part of Jollibee’s investment to fund its purchase of a restaurant chain.
Jollibee Foods, known for its fired chicken and hamburgers and also owns bake shops and pizza and pasta restaurant, outsells McDonald’s and KFC in the Philippines .
The company operates a total of 1,931 stores in the country, and 407 outlets abroad./.
Furthermore, Viet Thai will also receive a loan advance of 35 million USD to be repaid in 2016 with an interest rate of 5 percent per annum, sources said on May 22.
Viet Thai, the owner and operator of Highlands Coffee, plans to use part of Jollibee’s investment to fund its purchase of a restaurant chain.
Jollibee Foods, known for its fired chicken and hamburgers and also owns bake shops and pizza and pasta restaurant, outsells McDonald’s and KFC in the Philippines .
The company operates a total of 1,931 stores in the country, and 407 outlets abroad./.
