ALSEA, S.A.B. DE C.V. Mexico City, October 30, 2015. Alsea, SAB de C.V. (BMV: ALSEA *) the leading operator of Quick Service Restaurants, Coffee Shops, Casual and Family Dining establishments in Latin America and Spain reports the conclusion of the proceedings with the Federal Competition Commission (COFECE), on the probable responsibility by Alsea, for failing to notify prior to its fulfillment, the acquisition of 25% of Grupo Axo.
Although the COFECE determined earlier that the transaction did not involve a prohibited concentration, nor had anti-competitive effects, the decision issued yesterday by the authority indicates that the transaction had to be notified and, therefore, decided to fine the two companies.
The fine imposed on Alsea amounts MXN25'694,356.95 and has been determined based on the taxable income of Alsea 2013.
The Company is evaluating the legal options at its disposal to challenge the aforementioned decision.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of Alsea and its management with respect to its performance, business and future events. We use words such as 'believe', 'anticipate', 'plan', 'expect', 'intend', 'target', 'estimate', 'project', 'predict', 'forecast', 'guideline', 'should' and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Alsea is under no obligation and expressly disclaims any intention or obligation to update or revised any forward-looking statements, whether as a results of new information, future events or otherwise.
Alsea is the leading restaurant operator in Latin America and Spain of global brands in the quick service, coffee shop, casual and family dining segments. It has a diversified portfolio, with brands such as Domino's Pizza, Starbucks, Burger King, Chili's, California Pizza Kitchen, P.F. Chang's, Italianni's, The Cheesecake Factory, Vips, El Portón, Foster's Hollywood, La Vaca Argentina, Cañas y Tapas e Il Tempietto. The company operates more than 2,900 units and has around 60,000 employees in Mexico, Argentina, Chile, Colombia, Brazil and Spain. Alsea's business model includes support for its brands through a Shared Services Center that provides all of the Administrative and Development Processes, as well as the Supply Chain. Alsea has the distinctive as a 'Socially Responsible Company' and is one of the top 20 'Best Places to Work' in Mexico.
For more information visit: www.alsea.com.mx
Diego Gaxiola Cuevas Chief Financial Officer Telephone: (5255) 5241-7151 ri@alsea.com.mx
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