Berjaya Philippines hikes stake in pizza chain Papa John's

Listed Berjaya Philippines Inc. has increased its stake in the company that operates Papa John's restaurant chain. In a statement to the Philippine Stock Exchange on Monday, Berjaya Philippines said it acquired additional 24.6 million shares of Berjaya Pizza (Philippines) Inc., whose main business is the operation of the pizza franchise. "With the acquisition of the additional shares in Berjaya Pizza (Philippines) Inc., the issuer's (Berjaya Philippines) equity therein has increased to 30 percent," the company said. The company previously owned 9.5 percent of Papa John's. Berjaya Philippines said that since the opening of the first Papa John's in December 2010, it added 10 more branches. Another branch is opening within the month. Berjaya Philippines, formerly Prime Gaming Philippines Inc., is the exclusive lotto systems provider in Luzon. It had also acquired a hotel in Makati which was previously under the Best Western Hotel brand. - CMA/OMG, GMA News