Global private equity firm CVC Capital Partners, Malaysia’s Employees Provident Fund (EPF) and Johor Corporation, the investment arm of Malaysia’s Johor state, have finalized the MYR5.2 billion (approximately US$1.7 billion) privatization of Malaysian Pizza Hut franchise operator QSR Brands and KFC’s Malaysian operations paving the way for the delisting of both companies. CVC and Johor originally made the offer to QSR and KFC in 2011, with EPF joining the consortium in May 2012, and subsequently received approval from the shareholders of each company in 2012.