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 30, 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 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 China
Background/Description of the Disclosure
Jollibee Foods Corporation (JFC), the largest Asian food service company announced today that its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) completed divestment of its shareholdings in Guangxi San Pin Wang Food and Beverage Management Company Limited (San Pin Wang). With the completion of the divestment, Guangxi Zong Kai Food Beverage Investment Company Limited (GZK) is now the registered owner of 100% of San Pin Wang. As stated in JFC’s disclosure dated December 12, 2016, JFC acquired 55% of San Pin Wang on March 9, 2012 from GZK. San Pin Wang is a local Chinese restaurant chain with stores located mostly in Nanning in Guangxi Province in the southern part of the People's Republic of China. Its menu is centered on low priced beef noodle. At the time of acquisition, it had 34 stores and the business was already profitable. San Pin Wang grew profitably to 71 stores as of November 30, 2016. It plans to continue expanding in 2017 and in the years ahead. JFC has decided to focus on building its Yonghe King business, its largest business in China with 315 stores (as of November 30, 2016). On November 23, 2016, JFC through its wholly owned subsidiary acquired the 30% share of its former partner in Happy Bee Foods Processing through an asset for equity swap to own 100% of the food processing plant, divest of a business line producing and selling food products for third party institutions in China. This move is intended to focus on supporting Yonghe King by further improving food quality, strengthening food safety and accelerating product innovations. JFC’s divestment of its shareholdings in San Pin Wang is part of its intention to concentrate its resources on businesses with greater potential.
Other Relevant Information
Please see attachment.