The head of restaurant chain company Alsea said he expects the company’s acquisition of Walmex-owned Vips to finalize soon as it moves to fulfill concessions agreed upon with competition authorities.
Alsea runs various chains including Burger King and Starbucks in Mexico, reports say; the company agreed last September to acquire 263 of Walmex’s restaurants.
Competition authorities were not convinced that the merger would not lead to competition concerns, however. Alsea announced Wednesday that it had reached a deal with regulators and expects to close the deal as soon as those conditions are carried out.
The agreement requires Alsea to provide authorities with exclusivity agreement information concerned with malls in which the company operates, say reports; the company will also be required to end all exclusivity contracts with those 54 malls.
Full Content: MSN
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