Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Takeover Notice From NZ Restaurant Holdings Limite

14 June 2005
News release

Restaurant Brands Receives Takeover Notice From NZ Restaurant Holdings Limited

Restaurant Brands has today received a Takeover Notice from NZ Restaurant Holdings Limited under the Takeovers Code.

NZ Restaurant Holdings Limited, a company associated with private equity firm CVC Asia Pacific Limited, intends to make a full offer under the Takeovers Code to purchase all the ordinary shares in Restaurant Brands and all issued options to acquire ordinary shares in Restaurant Brands.

NZ Restaurant Holdings Limited is offering $1.65 in cash for each Restaurant Brands ordinary share.

The offer is subject to a number of conditions, including NZ Restaurant Holdings Limited gaining 90% acceptance for Restaurant Brands’ ordinary shares.

In addition, NZ Restaurant Holdings will require satisfaction as to ongoing arrangements with key senior staff and agreement on certain commercial matters with the franchisors who are counterparties to key commercial contracts with the Restaurant Brands group, prior to making the offer.

Restaurant Brands Chairman, Bill Falconer confirmed that Restaurant Brands has appointed an independent committee of directors to advise on the offer.

The independent committee consists of Bill Falconer, David Pilkington, Ted van Arkel and Trevor Hall.

Falconer said the independent committee has appointed Grant Samuel as independent adviser to prepare a report on the merits of the NZ Restaurant Holdings Limited offer.

“The independent committee advises shareholders to do nothing in respect of the NZ Restaurant Holdings Limited offer until it has received the independent adviser’s report,” he said.

Restaurant Brands’ shareholders will be sent a Target Company Statement relating to the NZ Restaurant Holdings Limited offer, which will include the independent adviser’s report.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news