June 14, 2018 |
International Meal Company (IMC) said it is still in merger talks with Sapore but has not reached an agreement.
IMC was responding to a report in local daily Folha de S. Paulo that said it had agreed to sell as much as 60% for an undetermined amount. According to Folha, Sapore will take a 35% stake in the new company and then issue a tender offer to buy an additional 25% for BRL9.30 ($2.51) per share.
Shares in IMC reached as high as BRL8.78 after the news broke on Wednesday. They ended the d
Brazilian restaurant operator responds to press reports alleging it agreed to sell up to a 60% stake