SHAKEY’S Pizza Asia Ventures Inc. (Pizza), one of the leading casual dining restaurant chains and food service groups in the Philippines, announced that Century Pacific Group Inc. (CPG) and JE Holdings Inc. (JE) have purchased via private placement the stake of one of its long-standing strategic investors, Singapore’s sovereign wealth fund GIC Private Limited through affiliate Arran Investment Pte Ltd. CPG and JE are the private holdings companies of the Po and Gokongwei families, respectively.
GIC held 283 million shares, representing a 16.8 percent stake in the company.
CPG purchased 185 million shares, bumping up its holdings to 62 percent.
Meanwhile, JE Holdings took up 98 million shares, laddering up to a 14.9 percent stake in Pizza. Shares were purchased at P9.50 apiece. To date, Pizza has close to 2,000 stores and outlets globally, spanning five Wow Brands.