News

Popeyes sale to RBI subsidiary final

March 27, 2017

Via an indirect subsidiary called Orange Inc., Restaurant Brands International Inc. expects today to acquire Popeyes Louisiana Kitchen after its tender offer is completed. A news release said RBI is paying $79 per share net to the holder in cash without interest and minus any taxes for ownership of the chicken chain. 

The transaction was successfully accepted Friday for approximately 83 percent of Popeyes' outstanding shares of common stock, the news release said. RBI expects to complete the acquisition of Popeyes through a "short-form" merger under Minnesota law. Upon consummation of the merger, Popeyes will become an indirect, wholly owned subsidiary of RBI.