elepizza shareholder KKR mulls delisting offer - reported rumour
Telepizza's [BME: TPZ] main shareholder KKR [NYSE: KKR] is considering a take-private offer, El Confidencial reported citing market sources.
Late on Thursday (20 December), the Spanish market regulator announced that trading in shares of Telepizza was suspended, pending relevant information.
KKR, which holds more than 26% of Telepizza’s capital (valued at about EUR 126.4m), plans to delist the Spain-based pizza restaurants operator, according to the report.
Telepizza and Pizza Hut announced on Wednesday they had sealed a strategic alliance and a master franchise agreement to accelerate growth in Spain, Portugal, Latin America, Andorra, Switzerland and the Caribbean. The Spanish multinational aspires to open more than 2,500 restaurants in 20 years, double its current level.
Expansion reported that KKR will have the support of Artá Capital, which will invest EUR 30m to EUR 40m, and other funds. The Spanish-language paper cited sources close to the process and financial sources. Artá Capital is a venture capital management company backed by the Spain-based financial entity Grupo March. At least another Spain-based family office will take part in the offer, Expansion added.
El Economista also reported that KKR is considering a takeover offer for Telepizza.
Telepizza's market capitalisation stands at EUR 485m, after its stock rose 7.45%, to EUR 4.83 before being suspended by the CNMV.
Link to original source (El Confidencial).
Link to original source (El Economista).
Expansion article in print, on page 4.