Reported 6 months ago
Zamp, a Brazilian restaurant chain operator backed by Abu Dhabi's Mubadala, has agreed to purchase the rights to operate the Starbucks brand and some stores in Brazil from SouthRock, which has been under bankruptcy protection. The deal worth 120 million reais involves a competitive process due to SouthRock's bankruptcy, with approvals required from Brazil's antitrust watchdog and the court. This move caused Zamp's shares to surge and marks its expansion into managing Starbucks cafes in the country, pending final agreements and approvals.
Source: YAHOO