03-Jan-2019 / 17:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Cologne, January 3, 2019 – Vapiano SE (ISIN: DE000A0WMNK9, ticker symbol: VAO) has signed an agreement to sell its shares in Vapiano Holding USA LLC. and seven of its subsidiaries in the USA to Plutos Sama Holdings Inc., Irvine, California (USA) (Plutos Sama).
Under the purchase agreement signed today, Plutos Sama will acquire 100% of the shares of Vapiano Holding USA LLC. for a cash consideration of 15 million dollars.
In connection with the sale, five “Development Agreements” will be signed to open 75 additional franchise restaurants in Illinois, Washington D.C., Virginia, New York and New Jersey, from which Vapiano SE will receive one-time development fees totaling five million dollars.
This move enables Vapiano SE to grow less capital intensive by franchise cooperations in the USA.
The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions as well as the financing for the purchase price by Plutos Sama.
Direct: +49 221 67001 303
Financial and Business Press
Dariusch Manssuri, IR.on AG
Direct: +49 221 9140 975
See original press release here: