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    Mubadala’s chance to sell stake in Zamp could pressure action, says Santander

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    Mubadala revoked its offer to acquire shares (OPA) representing 45.15% of Zamp for about 1.03 billion reais, according to released this Friday (Image: Money Times/Diana Cheng)

    Withdrawal of the offer to acquire control of Zamp, formerly Burger King Brazil (BKBR3), fur mubadala may put pressure on the Brazilian company’s action, as it opens up space for the sale of the minority stake held by the state investor in the United Arab Emirates.

    “Since Mubadala still owns 4.95% of Zamp and may decide to sell its share of the market, we believe that an ‘overhang’ (pressure) could be created in the stock as a result of this situation,” wrote the analyst at Santander Rodrigo Almeida, in a note to clients.

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    O Mubadala revoked his offer of acquisition of shares (OPA) representing 45.15% of Zamp for about 1.03 billion reais, according to disclosed this Friday.

    The decision came after Restaurant Brands International, the master franchisor of the Burger King and Popeyes brands, failed to guarantee on Thursday that the potential investor takeover of the Middle East would keep the two networks’ current franchise agreements with Zamp unchanged.

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    Zamp shares, which closed with a 9.2% drop the day before, due to Restaurant Brands’ signals, fell this Friday, around 12:45 pm, another 7.4% after the confirmation of the cancellation of the offer by Mubadala. .

    The fact that Mubadala was unable to acquire control of Zamp “makes room for the sale of its shares,” Almeida said.

    He projects a “significant” impact on the action if Mubadala decides to quickly sell the minority stake it holds, as the investor’s stake is worth approximately 100 million reais and the daily turnover of the paper is currently around 15 million reais.

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    Source: Moneytimes

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