An offshore business has put in an $881.5 million offer to buy a 75 percent share in Restaurant Brands. Finaccess Capital, a Mexican company which operates KFC, Pizza Hut, Burger King and Starbucks outlets in Europe and China, offered $9.45 a share – a premium to the $7.60 close and higher than $8.15, the record share price reached by Restaurant Brands in June.
The offer is non-binding, and Restaurant Brands chairman Ted van Arkel has recommended that shareholders wait for a formal offer to be received and a statement issued.
"There is no guarantee at this stage that agreement will be reached or that Finaccess will advance the proposal to the point where a takeover notice is issued," the company said. Any deal would be subject to approval from the Overseas Investment Office and Yum! Brands, the master franchiser for KFC, Pizza Hut and Taco Bell.
