Mubadala Capital, part of Abu Dhabi sovereign wealth fund Mubadala Investment Company, has launched a tender offer to take control of Zamp SA, which holds the franchise for the Burger King brand in Brazil.
Mubadala Capital has offered 7.55 Brazilian reais ($1.47) per share to buy a 45.15% stake in Zamp. Mubadala, which only owns a minority stake in the company, will own a 50.1% stake in Zamp after buying the additional stake.
This bid implies a 21% premium over Zamp’s current price of 6.22 reais per share. The company is listed on the Brazilian stock exchange. Following this announcement, shares in Zamp rose almost 19%.
Zamp was previously known as BK Brasil Operacao e Assessoria a Restaurantes S.A. and is the master franchisee of the 850 Burger King stores in Brazil.
Mubadala Capital manages assets worth $284 billion. In Brazil. it manages two third-party funds. Mubadala has reportedly invested $5 billion in the South American country since 2012.
Burger King Brasil is owned 10% each by Atmos Capital, a Brazilian investment fund and Restaurants Brands International, a North American multinational company. Morgan Stanley owns a 9.33% stake while Vinci Partners owns 6.4%.
Zamp has to take a call on the proposal within the next fortnight.
Platinum Orchard, a subsidiary of the Abu Dhabi Investment Authority (ADIA), has led a $300-million funding into China’s Taibang Biologic Group.
Other investors in the investment round include Singapore sovereign wealth fund GIC and state-owned China Life’s private equity arm – China Life Private Equity Investment – and Cinda Kunpeng (Shenzhen) Investment Management Co, Taibang said in a statement.
Taibang makes and sells plasma products and was previously known as China Biologic Products Holdings.
The statement said that the money will be used to finance its expansion of plasma stations and its research and development of new products.
The deal marks Taibang’s first equity financing transaction since the completion of its privatisation in April last year by a consortium led by Chinese private equity firm Centurium Capital.