SEA Deal Ticker
A US$800M coffee chain returns to its founder: David Thai buys Highlands control from Jollibee for US$88M
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.