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 23, 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, 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 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules

Subject of the Disclosure
JFC Completes Divestment of its Shareholdings in a Subsidiary in US
Background/Description of the Disclosure
Jollibee Foods Corporation (JFC), the largest Asian food service company disclosed today that JFC, through its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), completed divestment of its shareholdings in Chow Fun Holdings LLC (Chow Fun). Chow Fun paid JWPL US$1.6 Million to redeem JWPL’s 2,900 Class A Membership units, equivalent to 80.55% equity shares in Chow Fun. As stated in JFC’s disclosure dated December 15, 2016, Chow Fun Holdings LLC 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. JFC acquired 12% equity share in Chow Fun on July 25, 2008 then increased its shares to 80.55% on March 31, 2011. JFC’s divestment of its shareholdings in Chow Fun is part of its intention to concentrate its resources in building its larger businesses. JFC has the following businesses in the United States: Jollibee with 34 stores, Red Ribbon with 33 stores and Chowking with 16 stores. It also has a 40% ownership in Smashburger which has a total of 378 stores, mostly located in the United States.
Other Relevant Information
Please see attachment.