Finaccess secures over 90% of Restaurant Brands, compulsory acquisition looms

Restaurant Brands New Zealand Limited (RBD) has announced that Finaccess Restauración, S.L. has received sufficient acceptances to control more than 90% of RBD shares, enabling Finaccess to compulsorily acquire remaining shares. The compulsory acquisition price will match the offer price of NZ$5.05 per share. The offer is scheduled to close at 11:59 pm on 25 November 2025.

The Committee of Independent Directors advises shareholders who have not yet accepted the offer to do so as soon as possible to avoid waiting for the compulsory acquisition process. While shareholders accepting the offer will be paid within five working days, the compulsory acquisition process could take up to 40 working days after the offer period ends.

RBD anticipates that NZX will suspend trading in its shares five trading days after Finaccess begins the formal acquisition process, with delisting two trading days later. ASX is expected to follow a similar timeline. Finaccess has up to 20 working days post-offer to commence compulsory acquisition by sending notices to remaining shareholders.