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    IBS   PTIBS0AM0008

IBERSOL, SGPS, S.A.

(IBS)
  Report
Real-time Euronext Lisbonne  -  11:36 2022-09-30 am EDT
5.240 EUR   +0.38%
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Ibersol SGPS S A : informs Revised Binding Offer for the acquisition of Burger King reataurants

06/12/2022 | 09:23pm EDT

IBERSOL, SGPS, S.A.

Registered Office: Praça do Bom Sucesso, 105/159, 9th floor, Porto Registered at the Commercial Registry Office of Oporto under the single registration and tax identification number 501 669 477 Fully subscribed and paid-up share capital: EUR 46,000,000.00

REVISED BINDING OFFER FOR THE ACQUISITION OF BURGER KING

RESTAURANTS

Following the announcement of 5 June 2022, a Ibersol, SGPS, S.A. ("Ibersol") informs that, in the evening of 12 June 2022, has received a revised binding offer from Restaurant Brands Iberia, S.A. ("RBI") for the acquisition of Burger King restaurants in Portugal and Spain, by means of the purchase of the companies IBER KING - RESTAURAÇÃO, S.A. and LURCA S.A.U. ("Revised Binding Offer"), whereby RBI presents a proposal considering an Enterprise Value of €250 million, on a cash and debt-free basis, accrued by €7 million relating to tax credits and €3 million corresponding to the investment in 2 additional restaurants opened in 2022, being (i) the payment of part of the price (amounting to €13 million) subject to the satisfaction of conditions related to future evolution of EBITDA and/or cash flows generation and (ii) the terms of the Revised Binding Offer dependent on further due diligence and the discussion of the contractual documentation of the potential transaction.

The Revised Binding Offer maintains also an unsolicited proposal for the acquisition by RBI, for €8 million, of 5 real estate assets not previously included in the perimeter of the potential transaction.

In this context, the Board of Directors da Ibersol decided to evaluate the Revised Binding Offer in order to assess the existence or not of conditions to continue negotiations following such offer.

Oporto, 12 June 2022

The Representative for Market Relations

Disclaimer

Ibersol SGPS SA published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 01:22:02 UTC.


© Publicnow 2022
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Financials
Sales 2022 504 M 492 M 492 M
Net income 2022 14,0 M 13,7 M 13,7 M
Net Debt 2022 206 M 201 M 201 M
P/E ratio 2022 17,4x
Yield 2022 2,30%
Capitalization 221 M 216 M 216 M
EV / Sales 2022 0,85x
EV / Sales 2023 1,11x
Nbr of Employees 10 528
Free-Float 35,3%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 5,22 €
Average target price 10,00 €
Spread / Average Target 91,6%
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Managers and Directors
Antonio Carlos Vaz Pinto de Sousa Chairman & Chief Executive Officer
Deolinda Couto Head-Finance
Manuel Oliveira Head-Administrative
António Alberto Guerra Leal Teixeira Vice Chairman
Juan Carlos Vázquez-Dodero de Bonifaz Vice Chairman
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