Offer to buy the company that operates Burger King Brasil increases

Mubadala expands offer to buy Zamp, which operates Burger King Brasil

Mubadala expands offer to buy Zamp, which operates Burger King Brasil

Mubadala Capital has increased its offer for Zamp, the parent company of Burger King’s operation in Brazil. Under the new proposal, the Abu Dhabi sovereign fund plans to pay BRL 8.31 per share, compared to BRL 7.55 offered in early August.

“We understand that the Price per Share offered represents a value substantially higher than the median of premiums offered in other similar offers already carried out in the Brazilian market and adequately reflects the Company’s high potential for growth and value creation”, explains Mubadala in an offer presented to zamp.

The goal is to acquire 124,322,279 Zamp shares, equivalent to 45.15% of the company’s capital stock. If the transaction is closed, plus the percentage already held in the transaction, the fund will retain 50.10% of the parent company of Burger King Brasil. The operation can move more than R$ 1.03 billion.

With the adjustment in the value offered, Mubadala’s offer was extended until September 26, when the public offer to purchase shares would be auctioned. Up to ten days before that deadline, the fund can raise the price of Zamp shares by at least 5%.

Mubadala’s interest in Burger King Brasil is anchored in the size of the fast-food market in Brazil and its growth potential, experts explain.

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As retail as a whole was heavily impacted by the pandemic, large operations in the sector are priced below what they are worth or can achieve.

Just before noon on Monday, Zamp’s shares on the São Paulo Stock Exchange (B3) had accumulated a rise of 5.05%, quoted at R$8.12.

Zamp, also ahead of the Popeyes chain operation in the country, is among the food-out-of-home companies in large retail negatively affected by the pandemic.

In the second quarter of this year, it recorded a loss of BRL 31.6 million, an advance compared to the negative result of BRL 97.1 million in the same period in 2021 and a jump compared to the -BRL 186.7 million recorded from April to June 2020, when the trade closed its doors.

Zamp has 900 Burger King restaurants in the country, both owned and franchised, in addition to 50 Popeyes own stores.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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