Key Developments: Alsea SAB de CV (ALSEA.MX)
34.40MXN
10:06am EDT
$0.57 (+1.68%)
$33.83
$33.85
$34.59
$33.85
24,527
2,042,010
$38.44
$14.95
Latest Key Developments (Source: Significant Developments)
Alsea SAB de CV Opens 90 Units In Last 12 Months
Alsea SAB de CV announced that in the last 12 months it opened 90 units. As a result, the Company’s portfolio closed with 1,431 units. The annual growth of 6.7% in the number of units consists of 13 Comida Rapida (Quick Food) units, 53 cafes and 24 Comida Casual (Casual Dining) units. Full Article
Alsea SAB de CV Acquires Master Franchise Of Burger King Restaurants In Mexico
Alsea SAB de CV (Alsea) announced that it has concluded the process of acquiring the master franchise of the BURGER KING brand in Mexico. The acquisition was concluded in accordance with all conditions agreed to and with the authorization of the Antitrust Commission. Pursuant to the Joint Venture Agreement reached between Alsea and Burger King Worldwide, Inc. (BKW), the BKW subsidiary in Mexico was merged into Operadora de Franquicias Alsea S.A. de C.V. (OFA), an Alsea subsidiary, which will become the merged company and the operator of 204 BURGER KING restaurants in Mexico. Upon completion of the merger, Alsea acquired an additional 28.1% of the outstanding shares of OFA owned by BKW, bringing Alsea’s stake in OFA to 80%, with BKW retaining the remaining 20% stake in OFA. Full Article
Alsea SAB de CV Acquires Remaining 18% Of Cafe Sirena S. de R.L. de C.V. From Starbucks Coffee International
Alsea SAB de CV (Alsea) announced that it has acquired from Starbucks Coffee International (an affiliate of Starbucks Coffee Company) the remaining 18% of Cafe Sirena S. de R.L. de C.V. (Cafe Sirena), the Alsea subsidiary that operates Starbucks retail stores in Mexico. As a result of the March 27, 2013 transaction, Starbucks has agreed to provide Alsea 100% ownership of the Mexico business for the duration of the contract. The agreements include an option to expand Alsea’s rights to develop Starbucks retail stores in Mexico for an additional 10 years, which would extend exclusivity until the year 2037. Alsea also agreed to a new expansion plan of 50 store openings per year for the next five year. Subsequent to this period, the parties have agreed that they will review the continuation of a contractual expansion plan. Full Article
Alsea SAB de CV Enters Exclusive Agreement To Build And Operate The Cheesecake Factory Restaurants
Alsea SAB de CV announced it has entered into an exclusive licensing agreement to build and operate The Cheesecake Factory restaurants. The agreement provides for the development of 12 restaurants over an eight-year period throughout Mexico and Chile with the potential to expand the agreement to four other countries, such as Argentina, Brazil, Colombia and Peru. Full Article
Alsea SAB de CV Acquires Operations Rights Of Chang’s China Bistro Brand
Alsea SAB de CV announced that it has been awarded an exclusivity contract to develop and operate a chain of Chinese food restaurants under the Chang’s China Bistro brand in Brazil. The Company is planning to open 30 restaurants and invest more than USD 85 million in the project. Full Article
HR Ratings Places Long-Term Corporate Credit Rating On Alsea SAB de CV Under Review
Alsea SAB de CV announced that HR Ratings has placed its long-term corporate credit rating on the Company (HR A+) under review. The outlook remains stable. Full Article
Burger King Worldwide, Inc. and Alsea, S.A.B. de C.V. Sign New Joint Venture to Significantly Expand Brand Presence in Mexico
Burger King Worldwide, Inc. announced that it has entered into a joint venture agreement for Mexico with Alsea, S.A.B. de C.V. focused on significantly increasing the BURGER KING brand presence in this important market. As part of the transaction, ALSEA and BKW will contribute their BURGER KING restaurants in Mexico to form a joint venture through a merger of BKW’s Mexican subsidiary into Operadora de Franquicias Alsea S.A. de C.V. (OFA). The new company will own 203 BURGER KING restaurants in Mexico and has committed to open several hundred more over the next several years. As part of the joint venture, OFA will acquire the following rights and obligations: Acquisition of 97 BURGER KING restaurants, bringing ownership count to 203 BK restaurants; Operating control of the BURGER KING brand throughout all of Mexico; Exclusivity in Mexico for 20 years; Collection of royalties from sub-franchisees; An annual development plan that includes the opening of new corporate and sub-franchised BURGER KING restaurants over the next 20 years; and In exchange for a cash payment to BKW, ALSEA will maintain a majority stake in the joint venture, while BKW will maintain the minority stake. Full Article
Alsea SAB de CV Announces Share Capital Increase
Alsea SAB de CV announced a share capital increase in the amount of MXN 1,150 million, through the issuance of shares at a placement value of MXN 21.50 per share. Full Article
Alsea SAB de CV Announces Share Capital Increase
Alsea SAB de CV announced that during the Extraordinary General Meeting held on November 12, 2012, the shareholders approved a share capital increase of MXN 29 million through the issuance of 58 million shares. Full Article
Alsea SAB de CV Plans Share Capital Increase
Alsea SAB de CV announced that it is planning a share capital increase by issuing shares of one series. The offer will be submitted to the shareholders for the approval at the General Extraordinary Shareholders Meeting to be held on November 12, 2012. Further details were not disclosed. Full Article
Alsea gains control of Mexico's Starbucks stores
MEXICO CITY, April 1 - Mexico restaurant operator Alsea on Monday said it reached an agreement with Starbucks to take equity control of the world's biggest coffee chain's Mexican stores.
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