OSK Research says there is a possibility that Johor Corporation (JCorp) might agree to disposing off KFC and QSR if a right price offer is made by Felda.
Quoting a news report yesterday, the research agency said that Felda is said to be among the parties considering making a bid for KFC and QSR should JCorp make its stakes available for sale.
Felda is yet to table its offer and is reported to be planning to discuss its proposal with JCorp.
Felda's interest does not come as a surprise given that many parties have in the past showed interest in acquiring KFC and QSR, OSK Research said in its investment research note today.
Nevertheless, it said that JCorp, which has proposed to acquire both KFC and QSR via Massive Equity Sdn Bhd (MESB), is likely to want to keep its cash cows, especially KFC with good near term earnings prospects given its forays into India.
MESB is a 51 per cent and 49 per cent joint-venture owned by JCorp and private equity fund CVC Capital Partners Asia Pacific.
OSK Research has maintained a neutral call on KFC with an unchanged fair value share price of RM3.97.-- Bernama
Quoting a news report yesterday, the research agency said that Felda is said to be among the parties considering making a bid for KFC and QSR should JCorp make its stakes available for sale.
Felda is yet to table its offer and is reported to be planning to discuss its proposal with JCorp.
Felda's interest does not come as a surprise given that many parties have in the past showed interest in acquiring KFC and QSR, OSK Research said in its investment research note today.
Nevertheless, it said that JCorp, which has proposed to acquire both KFC and QSR via Massive Equity Sdn Bhd (MESB), is likely to want to keep its cash cows, especially KFC with good near term earnings prospects given its forays into India.
MESB is a 51 per cent and 49 per cent joint-venture owned by JCorp and private equity fund CVC Capital Partners Asia Pacific.
OSK Research has maintained a neutral call on KFC with an unchanged fair value share price of RM3.97.-- Bernama
