Harmos Horton Lusk advises Restaurant Brands on its response to an $884 million partial takeover offer

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Harmos Horton Lusk advises Restaurant Brands on its response to an $884 million partial takeover offer
3.4.19

Harmos Horton Lusk advised NZX/ASX dual-listed Restaurant Brands New Zealand Limited on its response to a $884 million partial takeover offer from Mexican investment company Finaccess Capital SA de CV. 

We advised on all legal aspects of the transaction, including advising on directors’ duties, negotiation of pre-transaction arrangements, formulation of response strategy, preparation of takeover response documents, compliance with takeover and securities regulations and negotiation with Yum! (the franchisor of KFC, Pizza Hut and Taco Bell) to obtain consent to the transaction.

With our assistance, the Restaurant Brands board carefully considered the advantages and disadvantages of the partial offer and concluded that the transaction provided shareholders an opportunity to accelerate the realisation of some of the future value of their shares, at an attractive premium to the market price. Accordingly, the directors unanimously recommended that shareholders accept the offer.

The bid, which valued Restaurant Brands at $1.18 billion, was successfully completed on 1 April.

Harmos Horton Lusk director Nathanael Starrenburg, together with Wook Jin Lee (senior associate) and Anthony Ellis (associate), advised Restaurant Brands on the transaction.

Harmos Horton Lusk is one of New Zealand’s most prominent M&A advisors.

- Asia Law Profiles 2016