Restaurant Brands is interested in buying Burger King restaurants, in Portugal and Spain, which belongs to Ibersol, valuing them at 230 million euros, Ibersol said in a statement to the Securities Market Commission (CMVM).

“Ibersol (…) confirms that Restaurant Brands Iberia has made a non-binding proposal for a potential acquisition of the Burger King restaurants owned by Ibersol in Portuguese and Spanish territory”, reads the statement, published on the CMVM website. .

The owner of the Burger King results in Portugal and Spain – and also links the Pizza Hut and KFC chains – the proposal, not later, is being made by the board of directors, “and in due course given to the process market”.

The proposal meets and allows a set of standards, including the realization of a process of due diligence (assessment) financial and legal, as well as the guarantee of internal authorizations and external financing by the proposing entity.

The relations between Ibersol and Burger King have some connection. The Burger King group terminated the contract with Ibersol to develop the brand in Portugal, citing non-compliance with the opening and remodeling of results, in a decision that this company considers “unfair and inappropriate”, according to a statement to the CMVM at the beginning of last week.

In an interview with the magazine Peoplefranchise director RBI Iberia, stated that she expected 2021 to be “the year of greatest growth in the history of Burger King in Portugal”, presenting as and equal to the 170 results of the competition. In 2021 alone, it planned to invest more than 30 million euros in more than 30 restaurants, and repeat the amount the following year, so between 2021 and 2022 the intention was to open about 60 restaurants, in an investment of more than 60 million euros.

(News updated at 12:22 pm with more information)