CVC, Johor Win OK For $1.5B Bid For Malaysian KFC Unit

Law360, New York (December 21, 2011, 6:49 PM EST) -- The boards of fast food operators KFC Holdings (Malaysia) Bhd and parent company QSR Brands Bhd have approved a $1.5 billion takeover bid by private equity firm CVC Capital Partners Ltd. and the investment arm of the Malaysian state of Johor, the food companies said Wednesday.

After the deal is complete, the companies will return the cash to shareholders and warrantholders through a capital repayment plan to be announced later, according to statements by KFC and QSR posted on the Malaysian stock exchange. The takeover bid,...
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