Zamp, which is controlled by Abu Dhabi state investor Mubadala, operates Burger King and Popeyes restaurants in Brazil, and had disclosed in February it was in talks to buy the Starbucks brand in the country.
Facade of Starbucks Coffee, located in Paulista Avenue, downtown Sao Paulo © Mena Today
Zamp, which is controlled by Abu Dhabi state investor Mubadala, operates Burger King and Popeyes restaurants in Brazil, and had disclosed in February it was in talks to buy the Starbucks brand in the country.
It is not yet known exactly how many of the more than 100 Starbucks stores in the country Zamp would buy, the company added.
As required by SouthRock's bankruptcy proceedings, the deal would be implemented through a competitive process, in which Zamp would have the right to match potentially higher bids, according to the filing.
Zamp said the deal requires approval from Brazil's antitrust watchdog CADE and the court overseeing SouthRock's bankruptcy.
It also needs a final agreement with Starbucks, which has so far reached an initial deal authorizing Zamp to explore the brand and develop operations of the coffee shop chain in Latin America's largest economy.
($1 = 5.2991 reais)
Reporting by Andre Romani
Dubai South, the region's largest urban master development focused on aviation, logistics and real estate, has officially inaugurated Dior's new Regional Distribution Centre for the Middle East at the EZDubai Logistics Hub.
Turkey has revoked the operating license of Iran's Bank Mellat, according to a notice published early Saturday in the official gazette.
The Casablanca Anfa dirt racecourse in Morocco will host the fourteenth leg of the UAE President's Cup for Purebred Arabian Horses tomorrow, part of the 33rd edition of the prestigious series. Seventeen horses representing elite studs and owners from Morocco, the Arab world and Europe will compete.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.