KLSE News: 14 Dec 2011 – QSR taken private !
1. Johor Corp Bhd (JCorp) plans to take QSR Brands
Bhd private, people familiar with the matter said
yesterday.The deal may also involve KFC Holdings
(M) Bhd, the source said. JCorp owns 53% of Kulim
Bhd, which in turn owns some 57.5% of QSR. QSR,
in turn, owns 50.6% of KFC, the country’s top fast
food operator. Top executives of Kulim and QSR,
however, said they had no knowledge on the matter.
In April this year, the Malay Chamber of Commerce
offered to buy stakes in Kulim through its Johor
chapter. The offer came months after Tan Sri Halim
Saad had attempted to buy QSR’s business for
RM1.62b. The offer, which had valued QSR shares
at RM5.60 a piece, was eventually turned down by
the ultimate owners of QSR. Halim’s November
2010 offer was not the only one on the table, as a
slew of foreign firms, including venture capital
companies, were said to have shown interest in
QSR. The Carlyle Group had offered RM6.70 a
share to gain a 100% control of QSR. Others said to
be interested in QSR at that point of time were CVC
Capital Partners Asia Pacific, and even, perhaps,
Kohlberg Kravis Roberts & Co, foreign reports
suggest. QSR is a much sought-after asset as
whoever controls the company will have control over
KFC. KFC has franchises in Malaysia, Singapore,
Brunei, Cambodia and India. It also operates the
home-grown RasaMas chain of restaurants and
Ayamas kiosks, while QSR operates some 260
Pizza Hut restaurants in Malaysia and Singapore.
No comments:
Post a Comment