Thailand based restaurant operator SNP forms JV with MINT for Europe foray

Patara Restaurant in London. Image from www.pataralondon.com

Thailand based restaurant operator S&P Syndicate PCL (SNP) and MFG International Holding (Singapore) Pte Ltd, a subsidiary of Minor International PCL (MINT), announced the formation of a 50:50 joint venture firm to tap the growing market for Thai restaurant business in Europe.

The newly-established firm – Patara Fine Thai Cuisine Limited (PFTC) – will have a registered capital of 3 million pound.

Upon the completion of the joint venture process, PFTC will take over the assets of S&P Restaurants Limited, which is a subsidiary of SNP and owns four branches of Patara restaurants and one restaurant under the ‘Suda’ brand, in the United Kingdom.

According to the statement, the JV will also be given the franchisee right, to open more branches under those two brands in the future. It has an investment outlay of 7 million pound to plans to open more outlets under the two brands. The source of fund will come from existing cash-flow and outside financing.

If PFTC registers a good performances during 2016-18, each of the parent companies will inject 1 million pound to increase PFTC’s capital in the last quarter of 2018.

MINT is one of the leading hospitality and leisure companies in Asia Pacific. It is currently listed in the Stock Exchange of Thailand and holds 33.8 per cent stake in SNP.

Related stories: MINT in $190m deal for hotels in Portugal, Brazil

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.