Ibersol expects to conclude the sale of Burger King on November 30
The purchase and sale agreement, which Ibersol signed on August 2 with Restaurant Brands Iberia, estimates that the transaction will result in a capital gain of approximately €160 million.
Ibersol announced on Wednesday its plan to conclude the process of selling Burger King restaurants in Portugal and Spain on November 30.
The company informed, “that the conditions precedent provided for in such agreement are met or have been waived on the date hereof.” In a statement sent to the CMVM, Ibersol said: “the completion of the transaction is scheduled for November 30 2022.”
The purchase and sale agreement that Ibersol signed on August 2 with Restaurant Brands Iberia estimates that the transaction will result in a capital gain of approximately €160 million in the company’s consolidated accounts.
The agreement values the companies at an enterprise value of €259.7 million, “on a cash and debt free basis, being part of the price (in the amount of €15.5 million) contingent upon the satisfaction of conditions related to the future evolution of EBITDA and/or cash flows generation.”
