BRIEF-Jollibee Foods Corp Says Unit Entered JV Agreement With Dim Sum Pte. Ltd.

Nov 14 (Reuters) - Jollibee Foods Corp:

* ENTERED JV AGREEMENT WITH DIM SUM PTE. LTD. TO FORM A CO IN THE PEOPLE’S REPUBLIC OF CHINA

* AGREEMENT TO DEVELOP & OPERATE TIM HO WAN STORES IN SHANGHAI AND OTHER CITIES WITHIN THE PRC AS MAY BE AGREED WITH FRANCHISOR

* CO'S UNIT GPPL WILL OWN 60% OF THE BUSINESS AND DSPL WILL OWN THE REMAINING 40%.

* AGREEMENT ENTERED INTO BY UNIT GOLDEN PLATE PTE. LTD.

* GPPL AND DSPL HAVE COMMITTED TO INVEST UP TO USD13 MILLION TO THE JV, OF WHICH UP TO USD7.8 MILLION WILL BE CONTRIBUTED BY GPPL

* AFTER INCORPORATION OF JV, UNIT SHALL SIGN A UNIT FRANCHISE AGREEMENT WITH TIM HO WAN PTE. LTD Source text for Eikon: Further company coverage: