{"id":55512,"date":"2023-08-31T22:43:44","date_gmt":"2023-09-01T02:43:44","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/brazil-burger-king-brand-owners-shareholders-reject-poison-pill-in-win-for-mubadala\/"},"modified":"2023-08-31T22:43:47","modified_gmt":"2023-09-01T02:43:47","slug":"brazil-burger-king-brand-owners-shareholders-reject-poison-pill-in-win-for-mubadala","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55512","title":{"rendered":"Brazil Burger King brand owner’s shareholders reject poison pill in win for Mubadala"},"content":{"rendered":"
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\u00a9 Reuters. A Burger King restaurant is seen on a main street in Sao Paulo, Brazil October 20, 2017. REUTERS\/Paulo Whitaker<\/span>
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SAO PAULO (Reuters) – Zamp, the owner of the Burger King brand in Brazil, said on Tuesday its shareholders rejected a proposal to include a poison pill in its internal bylaws, a win for Abu Dhabi state investor Mubadala which is building a large stake in the firm.<\/p>\n

The proposal that would implement a poison pill in addition to limit the voting power of a single shareholder to 15% was rejected 57.5% of the votes, Zamp said.<\/p>\n

The outcome is a key win for Mubadala, who raised its stake in the firm to 20.4% shortly after the proposal was unveiled in July, becoming Zamp’s largest shareholder. <\/p>\n

Last year, the Abu Dhabi sovereign investor had already tried to take over Zamp, but withdrew a tender offer it had launched saying it failed to confirm whether the deal would imply the termination of the firm’s franchise and trademark licensing agreements.<\/p>\n

At the time, Mubadala had 4.95% of the company and it offered 8.31 reais per share to buy a controlling stake. Zamp’s shares rose 1.65% on Thursday to 5.55 reais.<\/p>\n

(This story has been corrected to fix the spelling of Mubadala in the headline) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. A Burger King restaurant is seen on a main street in Sao Paulo, Brazil October 20, 2017. REUTERS\/Paulo Whitaker SAO PAULO (Reuters) – Zamp, the owner of the Burger King brand in Brazil, said on Tuesday its shareholders rejected a proposal to include a poison pill in its internal bylaws, a win for […]<\/p>\n","protected":false},"author":1,"featured_media":2360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55512","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBrazil Burger King brand owner's shareholders reject poison pill in win for Mubadala | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. A Burger King restaurant is seen on a main street in Sao Paulo, Brazil October 20, 2017. 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