JCorp, CVC seek buyers for KFC, Pizza Hut: Report
KUALA LUMPUR: Johor Corporation (JCorp) and private equity firm CVC Capital Partners are reportedly seeking buyers for the KFC and Pizza Hut fast-food restaurant businesses operated by QSR Brands (M) Holdings Bhd.
JCorp and private equity firm CVC are reportedly searching for potential buyers for KFC and Pizza Hut restaurant businesses. The fast-food operations are managed by QSR Brands (M) Holdings Bhd. Citi is overseeing the sale, with foreign investors from West Asia showing interest. Discussions are still in early stages, and a transaction may not occur.
The asking price is around RM4 billion. JCorp and CVC, along with the Employees Provident Fund, control the business through Massive Equity Sdn Bhd, which owns QSR Brands. JCorp holds a 55.63% stake, while Melati Asia Holdings Ltd and EPF own 44.19% and 51%, respectively. JCorp emphasizes its commitment to developing competitive and resilient businesses. Any material updates will be announced through appropriate channels.
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