Mubadala withdraws offer for Brazil’s Burger King brand owner

SAO PAULO (Reuters) – Brazil’s Zamp SA, which owns the Burger King brand in the South American country, said on Friday that Abu Dhabi state investor Mubadala has revoked its tender offer to purchase a controlling stake in the company.

Mubadala had offered 8.31 reais ($1.61) per share to buy a 45.15% stake in Zamp but decided to drop out of the deal, saying it had failed to obtain confirmation on whether the transaction would imply the termination of Zamp’s franchise and trademark licensing agreements.

($1 = 5.1670 reais)

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