SEC OKs merger of Max?s Jamba Juice, Krispy Kreme units

The country?s largest casual dining chain operator Max?s Group Inc. (MGI) is merging its wholly-owned subsidiaries The Real American Doughnut Co. Inc. and Fresh Healthy Juice Boosters, Inc.

The merger has already been approved by the Securities and Exchange Commission with TRADCI as the surviving corporation.

MGI said the merger is aligned with on-going reorganization initiatives to maximize operational synergies across the business.

The group holds the exclusive license to operate Krispy Kreme and Jamba Juice in the Philippines. It now owns has 79 Krispy Kreme outlets and 23 Jamba Juice stores across the country.

MGI restaurant portfolio also comprises Max’s Restaurant, Pancake House, Yellow Cab Pizza, Teriyaki Boy, Dencio?s, Meranti, Sizzlin? Steak, Kabisera, Le Coeur De France and Singkit.

Profit of Yap-led CEU clobbered by pandemic restrictions

Centro Escolar University (CEU), controlled by he heirs of the late Don Emilio Yap, saw a 23 percent decline in net income during its fiscal year ending May this year to P119.05 million due to the deferral of revenues and recognition of contract liabilities.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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