
JFC bags 30% stake in Mang Inasal for PHP2b
Mang Inasal is now a fully-owned JFC subsidiary.
Jollibee Food Corporation (JFC) has bagged a 30% equity stake in Filipino fast food chain Mang Inasal for PHP2b, making Mang Inasal a fully-owned subsidiary of JFC.
According to JFC’s announcement, the price per share amounts roughly to PHP533,333. JFC notes it paid for the acquisition wholly in cash.
JFC asserts there will be no changes in the business conduct and direction of Mang Inasal resulting from the acquisition, save that Mang Inasal’s Board of Directors will now be comprised of JFC representatives.