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Singapore’s sovereign wealth fund GIC sold its 16.8-percent stake in restaurant chain Shakey’s Pizza Asia Ventures Inc. for P2.69 billion.
CPG purchased 185 million shares to increase its holdings in Shakey’s to 62 percent, while JE Holdings took up 98 million shares to boost its share to 14.9 percent. “As strategic investors, they have been big supporters and have added value to the company. Thus, in turn, I am pleased that the company was able to generate gains for them. I am also grateful for the opportunity to increase our investments in PIZZA as we are firm believers and are excited by our future prospects. We are also grateful to the Gokongwei family for their belief in our company and the additional investment,” Po said.
“Since being elected in 2021 as a board member of PIZZA, I have seen the company navigate through a pandemic and emerge from it a better, more diversified group. This gives me confidence in the group’s vision and capability to execute. We are pleased with the opportunities that lie ahead, strongly support PIZZA’s expansion in the years to come, and look forward to creating synergies with the Gokongwei Group,” Gokongwei said.
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