Pizza Hut Malaysia parent to relist
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QSR Brands, parent of Pizza Hut Malaysia, plans to relist, raising more than US$400 million.
The company is Malaysia’s largest fast food operator with more than 450 Pizza Hut restaurants in Singapore and Malaysia. It has the sole KFC franchise rights for Malaysia, Singapore, Cambodia, and Brunei.
The Wall Street Journal reports the company will prepare to accept bids this month (September), but the exact size of the offer has yet to be finalised. Majority shareholder, state government-owned Johor Corp, with a 51 per cent slice of the business, may hold onto its investment for the time being.
ASR Brands was taken private for $1.3 billion by a consortium led by private equity firm CVC Capital Partners in 2012. The other significant investor is Malaysia’s Employees Provident Fund.
The most recent major Malaysian IPO in the consumer sector was 7-Eleven Malaysia Holdings, which raised $225 million in 2014.
Questions & Answers
Q.Which specific fast food brands does QSR Brands operate in Southeast Asia?
Which specific fast food brands does QSR Brands operate in Southeast Asia?
QSR Brands operates over 450 Pizza Hut restaurants in Singapore and Malaysia. It also holds the exclusive KFC franchise rights for Malaysia, Singapore, Cambodia, and Brunei, making it the largest fast food operator in Malaysia.
Q.Who are the current significant owners of QSR Brands?
Who are the current significant owners of QSR Brands?
The majority shareholder is state government-owned Johor Corp, holding a 51 per cent stake in the business. Malaysia’s Employees Provident Fund is also noted as another significant investor in QSR Brands.
Q.When was QSR Brands last taken private and by whom?
When was QSR Brands last taken private and by whom?
QSR Brands was last taken private in 2012 for $1.3 billion. This acquisition was led by a consortium that included the private equity firm CVC Capital Partners.
Q.What is the expected timeline for QSR Brands to begin accepting bids?
What is the expected timeline for QSR Brands to begin accepting bids?
The Wall Street Journal reports that QSR Brands is scheduled to begin accepting bids this month, September. However, the precise size of the offering is not yet finalised.
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