Kulim's 'No' To Bids Underlines Asian EM Potential

The ongoing flurry of private equity (PE) investments in the food and drink sector is continuing. PE firms Carlyle Group and Idaman Saga have reportedly submitted takeover bids for South East Asian fast-food chain operator QSR Brands. However, with Asia's potential shining through and representing such an integral part of the emerging markets (EM) arsenal of multinationals, Kulim (the parent of QSR) reportedly rejected these offers and is unlikely to give up its QSR operations, in our view.

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