Philippines

JOLLIBEE Foods Corp., the Philippines' leading fast food operator completed the acquisition of a 70% stake in Lao Dong, a Taipei-based restaurant, for PhP 61.1 million (NT 42 million) and an additional investment of PhP 30.6 million. Lao Dong, a full service restaurant with beef noodles as core product, has eight stores and a commissary in Taiwan. Jollibee said it plans to further expand the Lao Dong group in Taiwan and introduce the brand in China, where it operates Chun Shui Tang teahouse and Yonghe King and Hongzhuangyuan restaurants. The company's food chains in the Philippines include its flagship restaurant Jollibee, Chowking, Red Ribbon, Greenwich, Delifrance and Mang Pepe.KD VIII N7 Glowing