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KUALA LUMPUR, June 13 (Reuters) – Japanese restaurant Zensho Holdings Co Ltd has agreed to buy the Malaysian chain The Chicken Rice Shop (TCRS) at about 220 million ringgit ($ 52.86 million), announced Thursday at Reuters.
Zensho announced the acquisition last week, but did not disclose the purchase price.
The agreement strengthens the Japanese company's presence in Southeast Asia and strengthens its current operations in Malaysia, Indonesia, Thailand and Vietnam, said the person, who was not allowed to speak to the media and said therefore refused to be identified.
In a statement dated Monday, 3 Mr. Zensho announced his intention to create synergies with hundreds of TCRS sites and open new restaurants.
The Japanese Nomura was Zensho's only financial adviser on the operation, the official said. (1 $ = 4,1620 ringgits) (Report of Liz Lee to KUALA LUMPUR, additional report of David Dolan to TOKYO, edited by Christopher Cushing)
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