Finaccess Restauración, S.L. has closed its takeover offer for Restaurant Brands New Zealand Limited, securing approximately 98% ownership and initiating compulsory acquisition of remaining shares ahead of the company’s delisting from NZX and ASX.
- Finaccess takeover offer closes with ~98% acceptance
- Compulsory acquisition process initiated for remaining shares
- Compulsory acquisition price set at NZ$5.05 per share
- Trading suspension and delisting scheduled for early December 2025
- Shareholders urged to transfer shares voluntarily for prompt payment
Takeover Closure and Ownership Consolidation
Restaurant Brands New Zealand Limited (ASX/NZX, RBD) has reached a pivotal moment as Finaccess Restauración, S.L. successfully closed its full takeover offer, securing acceptances representing approximately 98% of the company’s shares. This near-total acquisition marks a significant consolidation of ownership and sets the stage for the next phase of corporate restructuring.
Compulsory Acquisition Process Begins
With the offer closed, Finaccess has initiated the compulsory acquisition process under the Takeovers Code to acquire the remaining shares held by minority shareholders. The compulsory acquisition price is fixed at NZ$5.05 per share, identical to the offer price. Outstanding shareholders who did not accept the offer have until 17 December 2025 to voluntarily transfer their shares. If they choose not to, Finaccess will compulsorily acquire these shares by 24 December 2025, with payments held in an interest-bearing trust account until claimed.
Implications for Shareholders and Market
The Committee of Independent Directors has recommended that remaining shareholders promptly sign and return their share transfer forms to ensure swift payment. This recommendation underscores the importance of timely cooperation to avoid delays in receiving funds. Meanwhile, trading in Restaurant Brands shares will be suspended on both NZX and ASX from 3 December 2025, with official delisting scheduled for 5 December 2025, effectively ending public market participation in the company.
Looking Ahead
The delisting of Restaurant Brands signals a new chapter under Finaccess’s ownership, potentially allowing for strategic changes away from the scrutiny of public markets. For investors, this transition closes the window for market liquidity and places emphasis on the compulsory acquisition process and payment timelines. The company’s share registrar, Computershare Investor Services, will facilitate payments and claims, providing a clear path for shareholders to recover their investment.
Bottom Line?
As Restaurant Brands exits public markets, shareholders face a narrow window to secure timely payment amid compulsory acquisition.
Questions in the middle?
- Will Finaccess pursue strategic changes post-delisting to reshape Restaurant Brands?
- How will minority shareholders respond to the compulsory acquisition process?
- What impact will delisting have on Restaurant Brands’ operational transparency and governance?