| Philippines' conglomerate Century Pacific Group said on Wednesday it teamed up with Singapore's sovereign investor GIC to acquire the domestic operator of the Shakey's Pizza restaurant chain without disclosing financial terms of the deal.
The move to buy the local operation of U.S.-based Shakey's, with close to 170 stores in the Philippines at end-2015, is the second deal between Century Pacific's controlling Po family and GIC. In May 2014, the Singaporean fund converted a 3.38 billion pesos ($73 million) loan into a 10 percent stake in Century Pacific Food Inc, the group's canned goods maker...............................................Full Article: Source
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