FBR - Famous Brands - Acquisition of Wimpy UK beco
FBR
FBR
FBR - Famous Brands - Acquisition of Wimpy UK becomes unconditional
FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR & ISIN code: ZAE000053328
("Famous Brands" or the "company")
FAMOUS BRANDS` ACQUISITION OF WIMPY UK BECOMES UNCONDITIONAL
On 27 February 2007, Famous Brands announced that subject to conditions
precedent, it had acquired a 75% stake in Ludgate 282 Ltd ("Wimpy UK"), thereby
achieving the group`s stated strategic intent to enter the first world branded
QSR/Casual Dining market via acquisition. The remaining 25% shareholding is
owned by Halifax Bank of Scotland. The acquisition consideration is UK GBP3
million, with a further UK GBP2 million to be invested in re-energising the
brand. The UK GBP5 million total investment will be funded through a
combination of cash reserves and debt finance.
The deal was conditional on the Wimpy UK funding agreements becoming
unconditional.
Famous Brands is pleased to report that the acquisition of Wimpy UK has become
unconditional with immediate effect.
Rosebank
7 March 2007
Sponsor
Java Capital (Proprietary) Limited
Attorneys
HR Levin Attorneys, Notaries and Conveyancers
Date: 07/03/2007 17:11:27 Produced by the JSE SENS Department.
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