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Restaurant Brands New Zealand says Mexican PE deal still uncertain

Restaurant Brands New Zealand Ltd. on Nov. 9 said there is still no guarantee that an agreement with Mexican private equity firm Finaccess Capital will be reached or that Finaccess will pursue its takeover proposal to the point where a takeover notice is issued.

On Oct. 18, Restaurant Brands New Zealand received a nonbinding, indicative cash offer from Finaccess to acquire up to 75% of the company's shares.

The company's board continues to remind its shareholders to not take any action regarding the proposal unless and until Finaccess pushes through with a formal takeover offer.

The company sold its Starbucks Corp. business to New Zealand-based Tahua Capital Ltd. in late October.