SEC approves Teriyaki Boy’s Yellow Cab takeover
The Securities and Exchange Commission (SEC) has approved the plan of Max’s Group, Inc. (MGI) to fold its subsidiaries, Boy Group, Inc. (TBGI) and Yellow Cab Food Corporation (YCFC), into one company.
In a filing with the Philippine Stock Exchange today, MGI disclosed that the merger between TBGI and YCFC has already been approved by the SEC.
TBGI will be the surviving corporation after the merger.
“The resulting transaction is part of continuing corporate reorganization activities to derive operational efficiencies and does not cause any adverse impact to existing shareholders,” MGI said.
Aside from Teriyaki Boy and Yellow Cab, the other brands owned by MGI are Pancake House, Krispy Kreme, Dencio’s, Jamba Juice, Kabisera, among others.