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
Two Israeli banks will halt working with their Palestinian counterparts in the coming months citing risks of associating with possible terrorism financing and money laundering, Israeli officials said, fuelling concerns of a Palestinian economic crisis.
Civil society groups have called on Malaysian billionaire tycoon Syed Mokhtar Al-Bukhary to revoke the appointment of Sultan Ahmed Bin Sulayem as executive chairman of logistics giant MMC Port Holdings due to his alleged ties to the late Jeffrey Epstein.
The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, condemned Iranian attacks on civilian infrastructure in Bahrain, Jordan and Kuwait on Saturday, describing them as "war crimes."
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.