Monde Nissin to buy 15% stake in Figaro Coffee

(c) BusinessWorld / Figaro Coffee Facebook Page

By: BusinessWorld

MONDE Nissin Corp. is acquiring a 15% stake in Figaro Coffee Group, Inc. (FCG) for around P820.27 million in a move analysts see as helping expand the companies’ business reach.

“We are excited with the opportunity to become shareholders in FCG as it provides a greater exposure to the food service sector which we view as a potentially attractive avenue for further growth both here in the Philippines and abroad,” Monde Nissin Chief Executive Officer Henry Soesanto said in a media release on Thursday.

In a regulatory filing on Thursday, FCG whose main business unit operates and franchises a network of retail restaurants said its board approved on Jan. 25 the issuance of about 820.26 million common shares to Monde Nissin at a peso each.

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