Mexican firm sees tasty target in KFC operator

Shares in Restaurant Brands jumped more than 14 per cent after a major Mexican company flagged a $881 million offer for a controlling stake in Restaurant Brands. The NZX-listed fast-food operator announced yesterday that it had been approached by investment holding company Finaccess Capital SA de CV. If the offer goes ahead, the Mexican-based firm would offer $9.45 cash a share for up to 75 per cent of Restaurant Brands, news of which sent the company’s shares soaring to $8.69 in early afternoon trading. Finaccess already holds a large stake in AmRest, a fast-food operator of brands like KFC and Pizza Hut across Europe and China. As a result, Restaurant Brands deferred an interim dividend until it was clear the offer was going ahead. Forsyth Barr analyst Jeremy Simpson said Finaccess would likely be a passive investor but appeared to share a similar philosophy with Yum, the ultimate owner of the KFC and Pizza Hut brands.