, China

Jollibee, Yum China, RBI considering bids for Chinese restaurant chain Wagas: report

The owners of the Wagas business are seeking a valuation of US$800 million to US$1 billion or more.

Yum China Holdings, Jollibee Foods Corporation and Restaurant Brands International are amongst major companies eyeing bids to acquire Chinese healthy food and bakery chain Wagas, Bloomberg reported.

Citing people familiar with the matter, the company is said to have also drawn interest from private equity firms.

The owners of the Wagas business, whose sales are expected to reach nearly 1.2 billion yuan (US$188 million) this year, are seeking a valuation of US$800 million to US$1 billion or more.

Read the full report here.

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