Mexico's Alsea shares slump on buyout-linked tax assessment
May 02, 2022 at 01:40 pm EDT
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MEXICO CITY, May 2 (Reuters) - Shares in Mexico's Alsea
dropped on Monday after the restaurant operator said late last
week that it had been notified by the country's tax authority it
owes 3.8 billion pesos ($190 million) in taxes stemming from its
purchase of the Vips chain in 2014.
Alsea shares fell 5.41% to 42.31 pesos, their
lowest level since February.
The firm, which manages franchises for international chains
such as Starbucks, Domino's Pizza and Burger King, said late
Friday it will challenge the Tax Administration Service's
finding.
"Alsea has fulfilled its tax obligations regarding the
operation in time and manner," it said.
(Reporting by Noe Torres; Writing by Valentine Hilaire; Editing
by Chris Reese)
Alsea SAB de CV is a Mexico-based company primarily engaged in the foodservice sector. Its main activities include the operation of such reputed franchises as the Dominoâs Pizza, Burger King, California Pizza Kitchen, Chiliâs Grill & Bar, Italianniâs, Pei Wei Asian Diner and PF Changâs China Bistro fast-food restaurant chains, as well as the Starbucks Coffee coffeehouse chain. In addition, through Distribuidora e Importadora Alsea SA de CV, the Company provides logistics and food distribution services to its restaurants located in Mexico. The Company operates through a numerous subsidiaries, such as Cafe Sirena S de RL de CV, Operadora de Franquicias Alsea SA de CV, Operadora y Procesadora de Productos de Panificacion SA de CV, Gastrosur SA de CV and Especialistas en Restaurantes de Comida Estilo Asiatica SA de CV, among others. In May 2014, the Company acquired 100% stake in VIPs, the restaurant chain, which had belonged to Wal Mart de Mexico SAB de CV before.
ALSEA, S.A.B. DE C.V. 
