Jubilant Foodworks Ltd (JFL) will purchase the remaining 10% stake of Golden Harvest in Jubilant Golden Harvest (JGHL) three way partnership, in accordance with an alternate submitting.
“Accordingly, JFL will purchase the entire 49% fairness stake of Golden Harvest in JGHL and publish the consummation of Name Possibility 1 and Name Possibility 2, JGHL shall develop into an entirely owned subsidiary of JFL,” the corporate stated in an announcement.
JFL has now issued a discover to Golden Harvest to train its name choice for buying the remaining 10% fairness stake in JGHL from Golden Harvest.
Jubilant Golden Harvest Ltd (JGHL) is a JV between JFL and Golden Harvest Ltd, a Bangladesh-based enterprise group with diversified pursuits in varied sectors, together with meals, dairy, commodities buying and selling, worldwide QSR, logistics and actual property growth.
As of December 31, 2021, JGHL, a public restricted firm integrated in Bangladesh, was working eight eating places.
In line with JFL, below the share subscription and shareholders’ settlement dated March 6, 2018, executed between JFL, JGHL and Golden Harvest, it had exercised the primary name choice for buying a 39% fairness stake in JGHL from Golden Harvest on September 30, 2021.
It will likely be an “all-cash consideration” and the transaction will likely be based mostly on a valuation report back to be obtained from a chartered accountant/ Impartial Accounting Agency.
JFL is a grasp franchise of manufacturers equivalent to Dominos and Dunkin’ Donuts. It additionally has franchise rights for Popeyes, an American multinational chain of fried rooster fast-food eating places for markets equivalent to India, Bangladesh, Nepal and Bhutan.
Supply: Live Mint