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Jollibee sells majority stake in Highlands Coffee in Vietnam

3 reports, 2 independent Updated Oct 1
Gone quiet Reached 2 outlets in its first 24 hours
Reports
3
Developments
2
Repetition
33%

New informationRepeats or wire copies

AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Jollibee's subsidiary signed an agreement to sell nearly 1.5 million shares in SF Vung Tau Joint Stock Company to Viet Thai International. This transaction was valued at US$88 million, based on which Highlands Coffee's equity value is estimated at $800 million. Following the sale, Jollibee's ownership stake in the company will decrease from 60 percent to 49 percent, while Viet Thai International's ownership will rise from 40 percent to 51 percent, making it the controlling shareholder.

From news.tuoitre.vn

Why it matters

Some supportBrind's analysis of the reports

The transaction allows Viet Thai International, which was founded by David Thai in 1998 and remains CEO, to gain control of Highlands Coffee. Jollibee expects to use the $88 million in proceeds to reduce debt, reinvest in other growth businesses, and make distributions to shareholders.

From news.tuoitre.vn

Who's involved

  • JollibeeSeller of a majority stake in Highlands Coffee's Vietnamese operating company
  • VietnamCountry where Highlands Coffee operates and where the share sale took place

How it developed

Newest first. Tap a step to see who reported it.
  1. Jollibee is selling its stake in Highlands Coffee in Vietnam.1 source
  2. Jollibee expands its presence by investing in Highlands Coffee in Vietnam.1 source

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Coverage

Newest first; wire copies grouped
1 more outlet ran the same wire story