SEC approves Teriyaki Boy-Yellow Cab merger

MANILA, Philippines — The Securities and Exchange Commission has approved the merger between Teriyaki Boy Group Inc. and Yellow Cab Food Corporation.

In a disclosure to the stock exchange on Thursday, Max’s Group Inc. said the combined business of its two wholly-owned subsidiaries is “part of continuing corporate reorganization activities.”

Max’s Group added that the transaction aims to “derive operational efficiencies” and does not cause any adverse impact to existing shareholders.

Max’s Group has been reorganizing the company since taking over Pancake House, Inc. in 2014. — Ian Nicolas Cigaral