Thursday, 24 September 2026 · SEA Deal Ticker

SEA Deal TickerThu, 24 Sept

Highlands Coffee is worth US$800M, so why did Jollibee sell control?

A US$800M coffee chain returns to its founder: David Thai buys Highlands control from Jollibee for US$88M — VnExpress International · Permalink
Thai's Viet Thai International buys 11% from the Philippine fast-food group, lifting his stake to 51%. Highlands runs 1,062 outlets; a Vietnam share listing is expected in the first quarter of 2027.
Positive-sum angle: Jollibee says the cash pays down debt and funds its other brands. Any founder who sold a majority to a strategic partner now has a Vietnamese precedent for buying it back before a listing.
Oversubscribed, yet capped at US$305M: Lakeshore Capital's third fund hunts Thailand's mid-sized firms — TNGlobal · Permalink
The Thai firm, which buys stakes in established private companies, beat its US$250 million target. Cheques run US$10 million to US$50 million across consumer, healthcare, services and industrial firms; up to 30% may go to Vietnam, Cambodia and Laos.
Positive-sum angle: A Thai family firm looking for a buyer or partner now has one more fund sized for it. The World Bank's private-sector arm, IFC, alone committed up to US$30 million.
Ant International deepens its Indonesia bet: 300,000-merchant DOKU becomes 'DOKU by Antom' — PR Newswire · Permalink
Antom, Ant International's arm for shop payments, deepened its undisclosed stake in DOKU, which lets Indonesian shops take cards and e-wallets. Co-founder Himelda Renuat becomes CEO; DOKU keeps its six Bank Indonesia licences.