Philippines’ Udenna weighs sale of Conti’s and Wendy’s businesses

MANILA: Udenna Corp, controlled by a close associate of former Philippine president Rodrigo Duterte, is exploring the sale of its Conti’s bakeshop and restaurant, and Wendy’s fast-food chain in the country, sources say.

The Philippine petroleum-to-education conglomerate is in talks with at least one financial adviser on potentially selling both businesses together, three sources with direct knowledge of the matter said.