SEC approves incorporation of JFC, Panda Group joint venture

— The Securities and Exchange Commission has greenlighted the incorporation of the joint venture between Jollibee Foods Corporation and U.S.-based Panda Restaurant Group, Inc. that will bring Panda Express restaurants to the country.

In a disclosure to the stock exchange Monday, JFC said the joint venture, JBPX Foods, Inc., was incorporated on July 3. JBPX will initially have an authorized capital stock of $5 million and and establish five Panda Express stores in Metro Manila. "Profit sharing shall be in accordance to the 50/50 ownership. The JV Company shall have its own management with JFC providing support," it said.

Off all American fast-food chains to bring to the Philippines did it have to be Panda Express?

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