Vapiano SE signs agreement to sell Vapiano Holding USA LLC. to Plutos Sama Holdings, Inc.
Cologne, January 3, 2019 - Vapiano SE (ISIN: DE000A0WMNK9, ticker symbol: VAO) has signed an agreement to sell its shares in Vapiano Holding USA LLC. and seven of its subsidiaries in the USA to Plutos Sama Holdings Inc., Irvine, California (USA) (Plutos Sama).
Under the purchase agreement signed today, Plutos Sama will acquire 100% of the shares of Vapiano Holding USA LLC. for a cash consideration of 15 million dollars.
In connection with the sale, five "Development Agreements" will be signed to open 75 additional franchise restaurants in Illinois, Washington D.C., Virginia, New York and New Jersey, from which Vapiano SE will receive one-time development fees totaling five million dollars.
This move enables Vapiano SE to grow less capital intensive by franchise cooperations in the USA.
The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions as well as the financing for the purchase price by Plutos Sama.
Investor Relations contact:
Mobil: +49 151 6283 2511
Telefon: +49 221 67001 303
Financial and business press:
Dariusch Manssuri, IR.on AG
Mobil: +49 173 566 2776
Telefon: +49 221 9140 975
03-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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