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NewsQSR, KFC, MESB to execute pact by May 21
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QSR, KFC, MESB to execute pact by May 21
by hlk Mon 23 Apr 2012, 20:15
QSR Brands Bhd, KFC Holdings (Malaysia) Bhd and Massive Equity Sdn Bhd (MESB) have agreed on the execution date of the definitive agreement for the proposed disposal to be no later than May 21, 2012.
In separate statements to Bursa Malaysia today, QSR and KFC said the date for the fulfilment or otherwise waiver of conditions precedent in the offer shall refer to a mutually agreed cut-off date.
MESB is a special-purpose vehicle owned by Johor Corporation (JCorp) (51 per cent) and CVC Capital Partners (49 per cent).
JCorp has reportedly proposed to acquire 100 per cent of KFC's and QSR's business and undertakings through MESB.
JCorp owns 53 per cent of Kulim Bhd, which owns some 57.5 per cent of QSR, which in turn owns 50.6 per cent of KFC Holdings (Malaysia) Bhd, the country's leading fast food chain. -- Bernama
In separate statements to Bursa Malaysia today, QSR and KFC said the date for the fulfilment or otherwise waiver of conditions precedent in the offer shall refer to a mutually agreed cut-off date.
MESB is a special-purpose vehicle owned by Johor Corporation (JCorp) (51 per cent) and CVC Capital Partners (49 per cent).
JCorp has reportedly proposed to acquire 100 per cent of KFC's and QSR's business and undertakings through MESB.
JCorp owns 53 per cent of Kulim Bhd, which owns some 57.5 per cent of QSR, which in turn owns 50.6 per cent of KFC Holdings (Malaysia) Bhd, the country's leading fast food chain. -- Bernama
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