Philippines' Jollibee raises stake in U.S. based Smashburger Master

MANILA (Reuters) - Philippine fast-food giant Jollibee Foods Corp (JFC.PS) said it would pay $100 million for a 45 percent stake in Smashburger Master, making it the majority owner of the U.S. hamburger chain, as it steps up its global presence. Jollibee currently owns a 40 percent stake in the Denver-based company through its Bee Good! Inc subsidiary. “JFC will be able to participate in the ve...