Wednesday September 19, 2012
KFC privatisation is still on
PETALING JAYA: The privatisation of KFC Holdings (M) Bhd and QSR Brands Bhd is still in the works, a company official told StarBiz after both stocks fell slightly yesterday on what some dealers attribute to fears that the deal would not go through.
When contacted by StarBiz, a spokesperson from Johor Corp Bhd (JCorp) said: “The deal is certainly on. However, given the magnitude of the more than RM5bil deal, it will obviously take a bit more time since it involves two listed entities as well as input from the franchisor Yum! Brands Inc. It is hoped that the deal can be completed by December.”
Shares of KFC and QSR fell one sen and nine sen respectively to RM3.85 and RM6.51. However, a dealer brushed aside the so-called “sell down”, noting that yesterday’s trading volume was below the average daily trading volumes of both stocks.
Last Friday, KFC said it was giving more time to Triple Platform – a vehicle jointly owned by JCorp, the Employees Provident Fund and CVC Capital Partners, to acquire the former.