KFC-owner Restaurant Brands soars as NZX 50 locks in 1.22% gain

KFC-owner Restaurant Brands soars as NZX 50 locks in 1.22% gain
The KFC-operator’s majority stakeholder filed a notice of intent to take over the company. (Image: NZME)
Gregor Thompson
A takeover notice has sent KFC-owner Restaurant Brands’ stock price flying on a newsy day in the New Zealand equity market. The benchmark S&P/NZX 50 Index gained 1.22% to 13,292.36 points on Tuesday, with 61.6 million shares worth over $255.9m changing hands. There were 95 gainers and 44 decliners.The day kicked off with Restaurant Brands’ largest shareholder, Finaccess, filing a takeover notice to acquire the company at $5.05 per share.Finaccess said it was “the final and best price it is willing to pay&rdq...

More Markets

New SkyCity CEO Jason Walbridge got pay package worth $2.6m
Markets

New SkyCity CEO Jason Walbridge got pay package worth $2.6m

SkyCity Entertainment Group chief executive Jason Walbridge got a pay package worth $2.6 million in the latest year, but chair Julian Cook said only $1.6m of that was in cash.The figures were released on Monday in the company’s annual report.That showed Walbridge’s remuneration f...

Finaccess bids to bucket KFC-owner Restaurant Brands
Retail

Finaccess bids to bucket KFC-owner Restaurant Brands

Finaccess Restauración wants the rest of the shares at $5.05 apiece.

ComCom gives provisional nod to Huntly deal
Markets

ComCom gives provisional nod to Huntly deal

It comes on the eve of Govt decisions on the electricity market.

Scales spends $104m to lift ownership in Australian joint ventures
Primary Sector

Scales spends $104m to lift ownership in Australian joint ventures

Scales Corp is lifting its ownership in several Australian joint ventures for A$91.05 million (NZ$104m). Both Meateor Australia and Fayman International will become 100% owned subsidiaries, and ANZ Exports will now be 85% owned.The total price includes A$49.4m payable in cash tod...