By Inside Retail Asia
Jollibee Foods Corporation (JFC) says its subsidiary Jollibee Worldwide (JWPL) will raise its stake in Titan Dining, a private equity fund that owns the Tim Ho Wan restaurant chain.
Titan’s funds will expand from US$263 million to $338 million to finance Tim Ho Wan’s store development ambitions and working capital requirements, as well as the completion of other projects.
JWPL’s stake in Titan – Tim Ho Wan’s master franchisee in the Asia Pacific region – will increase from 90 per cent to 92 per cent through the purchase of an interest owned by another shareholder for $5.79 million.
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