Ibersol Burger King sale negotiations ongoing

Ibersol, which owns the Burger King franchise in Portugal, says negotiations for the sale of its restaurants in Portugal to Brands Iberia are ongoing.

The deadline for the negotiations had been set for 30 June and Ibersol and the market was informed on 13 June.
Ibersol states that its administrative board had decided to “continue negotiations with Restaurant Brands Iberia in relation to the potential acquisition of restaurants under the insignia Burger King in Portugal and Spain after analysing a revised binding offer received from RBI”.
Following the communiqué on 13 June, 2022, Ibersol assured the market on Thursday that negotiations with Restaurant Brands Iberia regarding the potential acquisition of restaurants under the Burger King insignia in Portugal and Spain on that offer, meaning the purchase of the companies Iber King – Restauração and Lurca.
“In this context Ibersol SGPS will inform the market shortly of the subsequent developments in this process”, states the company.
Ibersol received a revised binding offer from Restaurant Brands Iberia for the acquisition of restaurants Burger King in Portugal and Spain which has valued the company at €250 million. (enterprise value including debts.