The deal closed on March 26 following Finaccess’ offer through its subsidiary, Global Valar SL, for up to 75 per cent of Restaurant Brands New Zealand shares at NZ$9.45 cash per share.
Finaccess informed Restaurant Brands, the New Zealand franchise operator of Pizza Hut, KFC and Carl’s Jr, on Tuesday that it has paid shareholders for shares taken up under the partial takeover.
The Mexico-based company, which also has a stake in AmRest, which operates KFC and Pizza Hut among other brands across Europe and China, said in its offer letter last year that it chose not to make a full takeover bid because there were benefits to Restaurant Brands remaining on the NZX and ASX.
“By remaining a public company, Restaurant Brands will have access to capital to fund future growth while also providing existing shareholders an opportunity to continue participating in the business over the long term,” Finaccess said at the time.
Restaurant Brands today also announced the appointment of Jose Pares Gutierrez and Emilio Fullaondo Botella as directors, and resignation of Stephen Copulos, Vicky Taylor and David Beguely as directors.
As required by the NZX Listing Rules, Gutierrez and Botella will each stand for re-election at Restaurant Brands’ next annual meeting of shareholders.
Ted van Arkel and Hamish Stevens will each remain on the board as independent directors, and Van Arkel will continue as chairman, until Restaurant Brands’ next annual meeting of shareholders on July 10. Both have announced their intention to retire as directors at the conclusion of that meeting.
Gutierrez, the CEO of Global Valar SL and its parent, Finaccess Capital, is also the chairman of the board and a proprietary director of AmRest Holdings SE, the director of the board of Crown Imports, Chicago, Il, vice chairman of the board of MMI, Toronto, Canada, director of the Board of DIFA, Mexico, and former member of the Beer Chamber of Mexico.
Botella, a senior executive with over 23 years of experience in the beer industry, has previously worked in a number of finance roles for Grupo Modelo, including four years as chief financial officer.
Following the acquisition of Grupo Modelo by AB InBev in 2013, Gutierrez oversaw significant cultural and organisational changes at AB InBev (Mexico) as vice president, human resources (to 2017) and vice president, Projects until his resignation in January 2019.