General Atlantic and CVC have paused multimillion-dollar stake sales in companies operating US fast food brands in Indonesia and Malaysia as protests and boycott campaigns over the Israel-Hamas war disrupt business.
Consumers in Muslim-majority Indonesia and Malaysia have shunned US brands since the start of Israel’s assault on Gaza in October.
The brands, including Starbucks, KFC and Pizza Hut, are being targeted over Washington’s support for Israel, even though they have emphasised their neutrality on the conflict. The companies operating the brands under a franchise model have also stressed that the fast food businesses are domestically owned.
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