Reply With QuoteInteresting.
I expect he's got a car salesman lined up to run it for him part time if it goes through.
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I just spotted this post on the Bloombergs website...
TYCOON TAN SET TO WEIGH TAKING MALAYSIA STARBUCKS OWNER PRIVATE
Malaysian tycoon Vincent Tan is considering taking Kuala Lumpur-listed Berjaya Food Bhd. private, according to people with knowledge of the matter.
Tan is in talks with banks about financing for a potential buyout deal for Berjaya Food, which owns 100% of Starbucks Corp.’s Malaysian operations, said the people, asking not to be named as the matter is private. Berjaya Food’s stock, which had lost more than a quarter of its value in the past year, jumped as much as 6.5% after the Bloomberg News report, the biggest intraday gain since September.
Berjaya Corp., a company founded by Tan in 1984 and involved in the real estate, hotels and consumer sectors, has a deemed interest of 55% in Berjaya Food, according to its latest available annual report.
Founded in 2009, Berjaya Food also runs brands including Kenny Rogers Roasters chain of restaurants in Malaysia as well Jollibean, a fresh soy milk operator. As of June 30, 2023, Starbucks Malaysia had 393 stores nationwide while Kenny Rogers Roasters had 80 stores.
Deliberations are preliminary and Tan could still decide against pursuing a go-private deal for Berjaya Food, the people said. Tan declined to comment, while representatives for Berjaya Food and Berjaya Corp. didn’t respond to requests seeking comment.
He's not showing any signs of slowing down, is he?
I'm sure someone with a bit more knowledge than me will be along shortly, to explain exactly what that all means. But in a nutshell, it appears that Tan's main company, Berjaya Corp, is looking to borrow money in order to buy the 45% part of Berjaya Food that it doesn't already own. That will give it 100% of the firm, which in turn owns 100% of the Starbucks chain in Malaysia, plus Kenny Rogers Roasters and Jollibean, whatever that is.
What does all that mean for CCFC? No idea, but it might explain why he's taken his eye off the ball somewhat, when it comes to recent footballing matters.
Interesting.
I expect he's got a car salesman lined up to run it for him part time if it goes through.
Vincent Tan is getting fed up of his treatment in the stock markets as for a number of years now his businesses have been deeply discounted compared to their book value. He has tried bringing in execs to address it (one even appeared on our Board a couple of years ago) and even selling off business units at close to book value, but all to no avail. Maybe this is his latest strategy, buy out minority shareholders at a depressed price, take the business private and then sell it on or re-list as a separate entity at a later date.
Kenny Rogers Roasters….now there’s a blast from the past.
Issit porn?Originally Posted by splott parker
Asking for a friend
Well he sounds as though he is still full of beans. At least he has woken up and smelt the coffee because this whole Cardiff City episode has Costa bomb.
The problem is he’s never had his eyes on the ball when it comes to football club ownership.
Good for him - He has made money doing his business, which is probably more than 99% of the users on here have done.
The starbucks model (as much as I dislike it) seems to be a successful business. I guess it works the same way as it does in Europe - as in - various regions borrow and lend each other money in a way that leads to zero tax being payable and it all gets dissolved away back to its shareholders.
He took McDonalds to Malaysia.
I just watched a documentary called Trading Places ...i think he's trying to corner the cocoa bean market
I'm sure that if Vincent Tan ever agrees that he does need a Director of Football at Cardiff City FC then he will appoint his most trusted Barista to the job
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