PH Capital takes over operations of Pizza Hut
PH Capital Co, a 70 percent owned subsidiary of Thoresen Thai Agencies, began operating Pizza Hut restaurants in Thailand last Thursday after Yum Restaurants International (Thailand) Co fulfilled all requirements and conditions precedent of an asset sales and purchase agreement between PHC and Yum.
The agreement involved PHC’s acquisition of the Pizza Hut business in Thailand from Yum. The board of Thoresen on February 3 passed a resolution approving PHC’s entering this acquisition agreement.
PHC had been expected to commence the operation of Pizza Hut restaurants in Thailand at the end of the second quarter of 2017 subject to completion of the deal. However, Thoresen informed the Stock Exchange of Thailand last week that Yum had fulfilled all requirements in conditions precedent of the deal.
