Mon. Apr 6th, 2020

Telepizza requests approval for the acquisition of Pizza Hut restaurants in Chile

Telepizza requests approval for the acquisition of Pizza Hut restaurants in Chile



Specifically, the Spanish multinational has stated that in the event that such request is approved, the parties would negotiate and, if appropriate, sign a sales contract and include standard conditions and guarantees in the market for this type of transactions.

The price of the operation of the assets acquired would be around 8 times the Ebitda generated.

This transaction is part of the actions that Telepizza is deploying before the close of its strategic alliance with Pizza Hut, unanimously approved by its shareholders at the last general meeting of shareholders, under which the Spanish firm will become the largest Pizza Hut franchisee master in the world by number of establishments and in a world leading pizza operator.

The director of finance of Telepizza, Javier Van Engelen, has indicated that the execution of this operation will have "immediate positive impact" on the results of the company.

"It will also mean a new and important step in the materialization of the synergies and opportunities derived from the agreement between Telepizza and Pizza Hut for the Latin American market, creating value for our shareholders, franchisees and employees, through a unique growth and development opportunity for all of them, "he indicated.

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