MEXICO CITY, March 5 Mexican restaurant operator
Alsea said on Wednesday it expected to close a deal
to purchase retailer Walmex's Vips restaurant chain shortly,
once it has fulfilled conditions set out by the country's
Alsea, which runs Domino's Pizza, Starbucks and Burger King
franchises in Mexico, agreed to buy Walmex's 362
restaurants in September for 8.2 billion pesos ($626.96
On Wednesday, Alsea said it had received a resolution from
the country's competition watchdog.
The resolution made the deal conditional on Alsea providing
information about exclusivity agreements with the malls in which
it operates, and eliminating 54 exclusive clauses in contracts
"Alsea and Wal-Mex hope to meet the conditions and close the
transaction shortly," the company said.
In November, the company said it had sought permission from
regulators for an equity offering so it could pay off debt
resulting from the purchase.
Shares in the company ended the day down 1.15 percent at
40.36 pesos ($3.05) before the announcement was made.