News

Investor buys 95% stake in India's Pizza Corner chain

September 9, 2004

Financial Express: NEW DELHI -- Bangkok-based entrepreneur Fred Mouawad purchased a 95 percent stake of the 24-unit Pizza Corner chain owned by the Geneva-based venture capital enterprise Global Investment Partners (GIP) and ICICI Ventures. Mouawad had invested as much as $9 million in the company in the past.

Pizza Corner chief executive officer Anoop Sequeira, when contacted, confirmed the new share structure of the company, however he refused to divulge the deal's value.

Sequeira and his management team own the remaining 5 percent of the company.

Pizza Corner will now be promoted by Global Franchise Architects.

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