Billionaire Tony Tan Caktiong's Jollibee Boosts Titan Dining Investment [Forbes]
JOLLIBEE FOODS UNSP/ADR (JBFCY)
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Source: Forbes
Jollibee Foods —controlled by billionaire Tony Tan Caktiong and his family—is boosting its investments in Titan Dining, the private equity fund that owns the Tim Ho Wan chain of dim sum restaurants across the Asia Pacific. Through its wholly-owned subsidiary, Jollibee Worldwide, the Philippines' largest restaurant chain has committed to invest an additional S$90 million ($66.6 million) in Titan Dining II, which has a S$100 million fund to be deployed in strategic investments in food and beverage concepts, the company said in a regulatory filing Jollibee has been steadily increasing its investments in Titan Dining, which owns and operates more than 60 Tin Ho Wan outlets across China, Hong Kong, Taiwan, Singapore and the Philippines. It originally invested S$45 million in Titan Dining in 2018 and now has injected more than S$400 million in the company. Known for its signature fried chicken dish Chickenjoy, Jollibee has been growing its global footprint and portfolio of restaurant
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