LEGAL | Staff Reporter, New Zealand

Finaccess Capital now 75% owner of Restaurant Brands

Restaurant Brands’ board also appointed a couple of new directors.

Mexican investor Finaccess Capital now has a controlling stake in Restaurant Brands.

Finaccess Capital, through subsidiary Global Valar S.L., made a partial takeover offer for up to 75% of Restaurant Brands New Zealand Limited’s shares at NZ$9.45 cash per share.

Finaccess has also informed Restaurant Brands that it has paid shareholders for shares taken up under the partial takeover, which closed on March 26.

Restaurant Brands’ board appointed Jose Pares Gutierrez and Emilio Fullaondo Botella as directors. Gutierrez and Botella will stand for re-election at Restaurant Brands’ next annual meeting of shareholders as required by NZX Listing Rules.

Following the appointment of the two executives, Stephen Copulos, Vicky Taylor and David Beguely resigned as directors.

Ted van Arkel and Hamish Stevens will each remain on the Board as independent directors, with van Arkel continuing as chairman until Restaurant Brands’ next annual meeting of shareholders on July 10. Both intend to retire as directors at the conclusion of the said meeting.

Restaurant Brands, the operator of some KFC Australia restaurants and other QSRs in New Zealand, recently posted a 7.2% lift in full year sales. The company previously announced an agreement with Taco Bell Restaurants Asia to roll out the taco chain’s outlets across Australia and New Zealand.

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