Halo Halong Pinoy

Tuesday, October 19, 2010

Jollibee buys Mang Inasal for 3 Billion Pesos

 From : GMAnews.tv

Fastfood giant Jollibee Foods Corp. on Monday said it is buying 70 percent of Mang Inasal Philippines Inc. — a Filipino food chain — for P3 billion.

In a filing with the Philippine Stock Exchange, Jollibee Foods said it will pay Mang Inasal owner Edgar Injap Sia III of Injap Investments Inc. a P200 million downpayment.

About 90 percent of the balance will be paid upon closing of the agreement, with the remaining 10 percent to be paid three years onward after the deal is reached, Jollibee Foods said.

Injap will keep 30 percent equity in Mang Inasal, the disclosure read.

READ MORE AT http://www.gmanews.tv/story/203720/jollibee-to-buy-mang-inasal-for-p3-billion

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