SEC approves merger of Jollibee-owned Zenith, Vismin Foods

Jollibee Foods Corp. on Monday confirmed that the Securities and Exchange Commission has approved the merger of its unit Zenith Foods Corp., with Cebu-based Vismin Foods. In a statement to the Philippine Stock Exchange, JFC confirmed that Zenith will be the surviving company and will acquire all assets and liabilities of Vismin as of end-September 2007. The merged entity will have total assets of about P3 billion. - GMANews.TV