Covid-19 shaves off about US$6m from Burger King SA sale deal by Grand Parade

SOUTH AFRICA – Grand Parade Investments (GPI), the master franchise holder for Burger King in South Africa has announced the renegotiation of its terms of sale for its interest in Burger King South Africa (BKSA) and Grand Foods Meat Plant (GFMP) to private equity group, Emerging Capital Partners (ECP). Under the revised offer, the enterprise value for the transactions has fallen to R593 million (US$35.3m), split into R570 million (US$33.9m) for Burger King SA and R23 million (US$1.3m) for Grand Foods Meat Plant, reports Fin 24. This represents a 15% discount on…

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SA’s Grand Parade to sell Burger King franchise to Emerging Capital Partners

SOUTH AFRICA – Grand Parade Investments (GPI), the master franchise holder for Burger King in South Africa is set to sell its 95.36 percent stake in Burger King franchise and all of Grand Foods Meat Plant to ECP Africa Fund for R697 million (US$46.53 million). Grand Parade will maintain a minority interest in line with its strategy to become a pure investment company. Emerging Capital Partners (ECP) is a Pan-African private equity firm that has raised over US$2 billion through funds and co-investment vehicles for growth capital investing in Africa.…

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Burger King SA shareholders approve US$34.4m Sun Slots deal

SOUTH AFRICA – Grand Parade Investments (GPI), an established empowerment company, has announced the prospective sale of the Sun Slots stake for US$34.4m in August, reports Fin24.  Sun Slots operates pay-out machine gaming licences in provinces across South Africa. The proceeds of the sale will be used to pay down debt held against the shares, and to pay a special dividend. According to a statement by GPI, now that shareholders have voted for the Sun Slots deal, GPI will move to restructure its balance sheet by reducing debt. This will…

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