Jumbo Group's (SGX:42R) subsidiary, Jumbo F&B Services, signed a joint venture and shareholders agreement with Laoxiangji, to incorporate a JV company in Singapore, according to a Tuesday bourse filing.
Under the agreement, the two parties will establish and operate Chinese-style quick-service restaurants under the Lausanjee brand.
Jumbo F&S will have a 49% stake in the JV, while Laoxiangji will have a 51% stake.
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