Restaurant Brands New Zealand (ASX:RBD, NZE:RBD) received a takeover notice from 75% shareholder Finaccess Restauracion, indicating Finaccess' intention to acquire all of the company's shares it does not own at NZ$5.05 per share in cash, with a formal offer expected within 10 to 20 working days, according to a Tuesday filing with the Australian and New Zealand bourses.
Finaccess is under no legal obligation to make an offer within this period, the filing said. If the Spanish firm chooses not to, the takeover notice will expire.
The company recommended that securityholders take no action in relation to the offer.