Sharechat Logo

RBD acquisition time extended

By Phil Boeyen, ShareChat Business News Editor

Thursday 30th November 2000

Text too small?
Funds manager AMP is extending how long it will stay in the market to increase its stake in fast-food company Restaurant Brands (NZSE: RBD).

Early in November AMP Henderson Global Investors took a stand in the market for 13.8 million shares in RBD at $1.25. This was followed by a restricted transfer notice by AMP Custodial Investments No.1 to acquire 4.65 million ordinary RBD shares at between $1.10 and $1.25, between November 3rd and December 1st.

AMP has now extended the time to acquire the shares until the end of June next year, and has lowered the minimum end of the range for the target share from $1.10 to $1.05.

Restaurant Brands shares have generally traded around the $1.25 mark ever since AMP stepped into the market. The funds manager currently has a 22.04% holding and is aiming for a 24.97% stake.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Restaurant Brands' 2Q sales rise 6.2 percent , led by Carl's Jr outlets
Is this the beginning of end for Starbucks?
Restaurant Brands bets on new brands to drive future earnings growth
Restaurant Brands expects 2014 profit will be marginally ahead of 2013
Restaurant Brands lifts 1st quarter sales 3.9 percent after adding Carl's Jr stores
Restaurant Brands scotches talk of buying Western Australian KFC stores
Restaurant Brands annual profit slips 4.5 percent, sees bigger earnings in 2013
Restaurant Brands 4th-qtr sales rise 4.5 percent as Carl's Jr makes up for Starbuck’s dip
Restaurant Brands 3Q sales creep higher
Restaurant Brands predicts flat annual profit, holds interim dividend

IRG See IRG research reports