IBERSOL, SGPS, S.A.

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Ibersol SGPS S A : informs signing of share purchase and sale agreement relating to IBERKING AND LURCA, which operate the restaurants Burger King

08/02/2022 | 06:32pm

IBERSOL, SGPS, S.A.

Registered Office: Praça do Boom Sucesso, 105/159, 9th floor, Porto Registered at the Commercial Registry Office of Oporto under the single registration and tax identification nuumber 501 669 477 Fully subscribed and paid-up share capital: EUR 46,000,000.00

SIGNING OF SHARE PURCHASE AND SALE AGREEMEENT

RELATING TO IBERKIN G AND LURCA, WHICH OPERATE THE RESTAURANTS

WITH THE BRAND BURGER KING

Ibersol, SGPS, S.A. informs that, after initiating a new negotiation process, was signed today a share purchase and sale agreement reelating to the sale to BK Portugal, S.A. and to Burger King Spain, S.L.U. (companies controlled by Restaurant Brands Iberia, S.A.) of the shares representing the whole share capital, respectively, of IBER KING, RESTAURAÇÃO, S.A. and of LURCA S.A.U. ("Iberking" and "Lurca"), com panies which operate the restaurants with Buurger King brand in Portugal and Spain.

The completion of the sale is subbject to certain conditions precedent, including inter alia the clearance of the Portuguese Competition Authority.

The price will correspond to ann enterprise value of €259.7 million, on a cash and debt free basis, being part of the price (in the ammount of €15.5 million) contingent upon the satissfaction of conditions related to the future evolution of EBITDA and/or cash flows generation.

Within this transaction and conssidered in the abovementioned enterprise value, it is also foreseen the transfer of certain assets in the global amount of €6.6 million from entities of Ibersol Group to the transaction perimeter, as well as the transfer of certain real estate assets held by Iberking in the global amount of €8.4 million to other entities of Ibersol Group.

Assuming that the maximum amount of the price is entirely received, the transaction results in a capital gain of approximately €160 million in the Ibersol's consolidated accounts.

Oporto, 2 August 2022

The Representative for the Market Relations

Disclaimer

Ibersol SGPS SA published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 22:31:01 UTC.

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