Financial Wire

Market Chatter: Jollibee Concludes Acquisition of Korean Hot Pot Chain All Day Fresh

-- Philippine fast food giant Jollibee Foods (PSE:JFC) completed the 100% acquisition of South Korean hot pot chain operator All Day Fresh in a deal worth 130 billion won after the Korea Fair Trade Commission approved the transaction.

Following the buyout, All Day Fresh separated from its former parent, Myungryundang, and was fully incorporated into Jollibee Foods, Yonhap News reported Monday.

The KFTC gave clearance to the Philippine restaurant chain operator last week to carry out the acquisition through Jolli-K, Jollibee Foods' 70%-owned subsidiary, according to a report by Philippine news outlet Inquirer.net on Thursday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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