$884m partial takeover succeeds with Harmos Horton Lusk’s help

by Sol Dolor10 May 2019

When Mexican investors wanted a piece of Restaurant Brands, the dual-listed fast-food company tapped Harmos Horton Lusk for advice on a response.

The firm’s corporate law specialists saw the deal through, which ended up with Finaccess Capital paying $884m and valuing the company listed on the NZX and ASX at $1.18bn.

Harmos Horton Lusk director Nathanael Starrenburg, with a team that included senior associate Wook Jin Lee and associate Anthony Ellis, advised Restaurant Brands on the transaction.

The firm said that it advised on all legal aspects of the transaction, first advising on directors’ duties, negotiating pre-deal arrangements, formulating the response strategy, and preparing the takeover response documents. It also advised on compliance with takeover and securities regulations, as well as in the negotiation for consent from fast-food titan Yum! Brands, the franchisor of KFC, Pizza Hut, and Taco Bell.

“With our assistance, the Restaurant Brands board carefully considered the advantages and disadvantages of the partial offer and concluded that the transaction provided shareholders an opportunity to accelerate the realisation of some of the future value of their shares, at an attractive premium to the market price,” Harmos Horton Lusk said. “Accordingly, the directors unanimously recommended that shareholders accept the offer.”

The deal closed on 1 April.