The shares of Zamp, owner of the Burger King and Popeyes brands in Brazil, jumped 18.81% this Monday (1st), at R$7.39, the highest value since the beginning of April.
The stock surge occurred after the company announced a takeover offer made by MC Brazil F&B Participações, controlled by the state fund Mubadala, from the United Arab Emirates.
The OPA (Public Offer for Acquisition) presented by the investor is for the purchase of 45.15% of Zamp shares, for R$ 7.55 each. The total value of the proposed deal is R$938.6 million.
The offer represents a gain of approximately 22% compared to the closing of last Friday (29) and of 31% in relation to the weighted average of the last 30 days.
If completed, the transaction will leave Mubadala with 50.1% of Zamp’s share capital.
Zamp informed that its board of directors is evaluating the OPA and will publish a prior opinion within 15 days.
In the tender notice, Mubadala says that Zamp “has high potential for growth and value creation for its shareholders”, and that it admires the work done by the company’s management, “especially given the recent challenging economic and market conditions”.
Atmos Capital, Vinci Partners and Morgan Stanley are among Zamp’s top shareholders today.
with Reuters
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