Japan's Zensho agreed to pay $53 mln for Malaysian halal restaurant chain -source
13/06/2019 03:39
KUALA LUMPUR, June 13 (Reuters) - Japanese restaurant
operator Zensho Holdings Co Ltd 7550.T agreed to buy Malaysian
halal chain The Chicken Rice Shop (TCRS) for around 220 million
ringgit ($52.86 million), a person with knowledge of the deal
told Reuters on Thursday.
Zensho announced the acquisition last week but did not
disclose the purchase price.
The deal increases the Japanese firm's presence in Southeast
Asia, adding to current operations in Malaysia as well as
Indonesia, Thailand and Vietnam, said the person, who was not
authorised to speak with media and so declined to be identified.
In a statement dated Monday 3, Zensho said it plans to
create synergies with TCRS' roughly 100 locations and open new
restaurants.
Japan's Nomura was Zensho's sole financial adviser on the
deal, the person said.
($1 = 4.1620 ringgit)
(Reporting by Liz Lee in KUALA LUMPUR; Additional reporting by
David Dolan in TOKYO; Editing by Christopher Cushing)
((liz.lee@thomsonreuters.com; +60323338039; Reuters Messaging:
liz.lee.thomsonreuters.com@reuters.net))