YUM! Brands Inc, the franchisor of the Kentucky Fried Chicken (KFC) and Pizza Hut brands, has given its nod to the proposed management buy-out and reorganisation of KFC Holdings (M) Bhd (KFCH) and Ayamas Food Corp (M) Bhd, and extended the franchise agreement by 10 years effective from 2003, with an option for a further extension of 10 years.
The agreement is crucial for a corporate reorganisation of KFCH and Ayamas announced in December as proposed by the senior team, which would end up with about 13% stake in a newly listed holding company (newco) for both KFCH and Pizza Hut Restaurants Sdn Bhd.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
