Alsea goes for Canas y Tapas in Spain

Alsea goes for Canas y Tapas in Spain

Mexican food chain operator Alsea has agreed to buy a controlling stake in Grupo Zena, from Food Service Project. The acquisition of 71.76% of the company, which operates 427 restaurants including Domino’s Pizza and Canas y Tapas will come at €107m ($143m). Alsea has a five-year loan for MXN1.9bn ($143m) which will cover the initial purchase, and the company is looking at its refinancing options, it said. BBVA Bancomer was financial advisor to Alsea. Alsea raised equity in its local market

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