Marc Hasenfuss Editor-at-large

News that Grand Parade Investments (GPI) could sell a chunk of its strategic holding in Spur Corp has done little to liven up its share price. GPI has not exactly made a mint on the Spur investment, but the fact that such a transaction is being contemplated suggests the group may be intent on pulling out the stops in rolling out Burger King outlets in the next 12 months. With the recent R225m sale of its head office in the Cape Town city centre falling through, GPI — which prides itself on regular dividend payments — might feel more reassured with extra cash sloshing around the balance sheet. It has already indicated that it will meet the 80-store target it agreed to when it signed the master franchise agreement with Burger King EMEA (Europe, Middle East and Africa). That will be a relief to shareholders, who must have picked up that the relationship between GPI and Burger King EMEA has sometimes been strained. The bigger challenge, of course, is showing that Burger King is capable ...

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