SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Dec 15, 2016

2. SEC Identification Number

77487

3. BIR Tax Identification No.

000-388-771

4. Exact name of issuer as specified in its charter

JOLLIBEE FOODS CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10/F JOLLIBEE PLAZA BUILDING, 10 F. ORTIGAS JR. AVENUE, ORTIGAS CENTER, PASIG CITY Postal Code 1605

8. Issuer's telephone number, including area code

(632) 634-1111

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON	1,075,083,542
TREASURY	16,447,340

11. Indicate the item numbers reported herein

-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Jollibee Foods CorporationJFC

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
JFC To Divest Its Shareholdings in a Subsidiary to Focus on Larger Businesses in the US
Background/Description of the Disclosure
The Company, through its wholly-owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL), shall divest its shareholdings in Chow Fun Holdings LLC (Chow Fun), a non wholly-owned subsidiary.

Date of Approval by Board of Directors	Dec 15, 2016

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The divestment is part of the Company’s intention to concentrate its resources in building its larger businesses.

Details of the acquisition or disposition

Date	Dec 15, 2016

Manner
For and in consideration of Chow Fun’s payment to JWPL of the price and of other terms set forth in the Agreement, Chow Fun will redeem and JWPL will deliver to Chow Fun, 2,900 Class A Membership Units in Chow Fun (the “JWPL Units”).
Description of the company to be acquired or sold
Chow Fun is the developer and owner of a restaurant concept known as Jinja Bar and Bistro. It has three restaurants in New Mexico, two in Albuquerque and one in Santa Fe.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	2,900 Class A Member
Percentage to the total outstanding shares of the company subject of the transaction	80.55
Price per share	USD551.72

Nature and amount of consideration given or received
Chow Fun will pay to JWPL US$1,600,000.00 (United States Dollars: One Million Six Hundred Thousand), in readily available funds, in U.S. currency, on Closing.
Principle followed in determining the amount of consideration
This is a negotiated price mutually agreed upon by both parties.
Terms of payment
Chow Fun will pay to JWPL US$1,600,000.00 (United States Dollars: One Million Six Hundred Thousand), in readily available funds, in U.S. currency, on Closing.
Conditions precedent to closing of the transaction, if any
The redemption by Chow Fun of the JWPL Units will be conditioned upon Chow Fun being able to arrange third party financing at commercially reasonable terms and conditions in a sufficient amount to pay the Price.
Any other salient terms
-

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Chow Fun Holdings LLC	Chow Fun is a non wholly-owned subsidiary of the Company.

Effect(s) on the business, financial condition and operations of the Issuer, if any
The divestment shall allow the Company to concentrate its resources in building its larger businesses.
Other Relevant Information
Please see attached disclosure.