BK Portugal SA and Burger King Spain, Sociedad limitada Unipersonal agreed to acquire Iberking and Lurca from Ibersol, S.G.P.S., S.A. (ENXTLS:IBS) for an enterprise value of Ã260 million on August 2, 2022. Samir Azzouzi, Rodrigo Urfa, and Richard Day of Clifford Chance has advised Restaurant Brands Iberia. As of September 8, 2022, The Portuguese Competition Authority accepts the sale of Burger King to RB Iberia.
The transaction will result in a capital gain of approximately Ã160 million in Ibersol's consolidated accounts. As of November 17, 2022, the completion of the transaction is scheduled for November 30 2022.