KFC operator in Thailand explores sale of business -sources

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

SINGAPORE : Restaurants Development Company is exploring the sale of its KFC franchise business in Thailand, valued at roughly $300 million, as revenue rebounds with a recovery in Southeast Asia's second-largest economy, three sources aware of the matter said.The Bangkok-based firm, backed by a consortium

SINGAPORE : Restaurants Development Company is exploring the sale of its KFC franchise business in Thailand, valued at roughly $300 million, as revenue rebounds with a recovery in Southeast Asia's second-largest economy, three sources aware of the matter said.

Restaurants Development was considering the sale of its KFC business in 2020 but the process was shelved due to the impact of the coronavirus pandemic, two of the sources said.The revival of the sale comes with a pick up in Thai consumer confidence in June, for the first time in six months, boosted by improved economic activity following an easing of COVID-19 curbs.

Its KFC business is expected to grow further over the next few quarters on the back of the economic recovery and easing of travel restrictions, one of the sources said. Thai Beverage declined to comment and there was no response from Central Group to a request for comment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

France's Eutelsat in talks over possible merger with UK satellite operator OneWebPARIS : French satellite company Eutelsat said it was in talks with British rival OneWeb over a possible merger deal, which would help both companies challenge the likes of Elon Musk-owned SpaceX's Starlink and Amazon.com's Project Kuiper.'Following recent market rumors, Eutelsat Communications confirms t
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »