Ibersol SGPS S A : i nforma sobre proposta da Burger King - versão inglesa
February 16, 2022 at 07:26 am EST
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IBERSOL, SGPS, S.A.
Public Company
Registered Office: Praça do Bom Sucesso, 105/159, 9th floor, Porto
Registered at the Commercial Registry Office of Oporto under the single registration and tax
identification number 501 669 477
Fully subscribed and paid-up share capital: EUR 46,000,000.00
ANNOUNCEMENT
CLARIFICATION TO THE MARKET ABOUT NON-BINDING PROPOSAL FOR THE ACQUISITION OF
BURGER KING INSIGNIA RESTAURANTS
Following public news reports, Ibersol, SGPS, SA, ("Ibersol" or "Company") confirms that Restaurant Brands Iberia has submitted a non-binding proposal for the potential acquisition of Burger King restaurants owned by Ibersol in Portuguese and Spanish territory.
This proposal indicatively values the aforementioned restaurants at an Enterprise Value of €230 million, on a cash and debt-free basis, and is subject to a set of assumptions and conditions, including, among others, (i) the satisfactory completion of a financial and legal due diligence review and (ii) the obtainment of the necessary internal authorizations and external financing by the proposing entity.
This non-binding proposal is being analysed by the Company's Board of Directors, and the market will in due course be informed about the subsequent developments of this process.
Porto, 16th february 2022
The Representative for Market Relations
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Ibersol SGPS SA published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 12:25:05 UTC.
Ibersol, SGPS, S.A. specializes in operating fast-food restaurant chains, primarily under the Pizza Hut, Pizza Movil, Kentucky Fried Chicken (KFC), Bocatta, Burger King, O Kilo, Pasta Caffé, Pans & Company, Café Sô names and Flor d'Oliveira.
At the end of 2022, the group operated 621 restaurants located mainly in Portugal (296), Spain (179) and Angola (10).