CVC, Johor win board backing for Malaysian fast-food buyout
A takeover offer from CVC Capital Partners and Malaysian state investment arm Johor Corp. for fast-food chains QSR Brands and KFC Holdings has won approval from the companies’ respective boards. The consortium must now put their bid before shareholders, requiring 75% backing to proceed with the MYR5.24 billion ($1.65 billion) transaction.
QSR Brands and KFC Holdings announced their support for the bid in filings with Bursa Malaysia. The proceeds of the deal would be returns to shareholders through a capital repayment exercise. CVC and...
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