Restaurant Brands New Zealand Limited

 

Transaction Type: Takeover (Partial)

Offeror: Finaccess Capital, S.A. de C.V

Independent Adviser(s): Grant Samuel & Associates Limited (Rule 21)

Offer dispatch date: 10/12/2018

Offer closing date: 26/03/2019

 

On 10 December 2018, Finaccess Capital, S.A. de C.V. (Finaccess), through its subsidiary Global Valar S.L, made a partial takeover offer for up to 75% of the ordinary shares in Restaurant Brands New Zealand Limited for an offer price of NZ$9.45 per share (RBD, and the Offer). At the time of the offer, Finaccess held no shares in RBD.

Grant Samuel & Associates Limited (Grant Samuel) prepared an independent adviser’s report in accordance with rule 21 of the Takeovers Code. Grant Samuel’s valuation range was NZ$8.15 to NZ$8.92.

On 26 March 2019, the successful offer closed and was declared unconditional the following day. The level of acceptances reached 91.32% of the fully paid ordinary shares in RBD that Finaccess did not already own or control. Accordingly, acceptances were then scaled back to 75.00%.