CVC finalises Grupo Zena sale

The favoured buyer is expected to be Polish group Amrest, which acquired Restauravia from Corpfin Capital in 2011.

The buyer is expected to pay around €250m for the asset, roughly in line with the purchase price paid in 2001 when CVC joined forces with Inveralia to buy Grupo Zena and took a 60% stake in the firm, according to unquote" data. Debt was provided by Rabobank.

In 2009, Inveralia sold its 29% stake in the firm to Britania Investment, in a deal estimated at €53m. Financing for the deal, thought to be €19m, was handled by the London branch of ING.

Zena was created in 2001 via the merger of cafeterias California and Cenesa. It operates brands including Fosters Hollywood and holds the franchise to Burger King, Pizza Hut and KFC. In 2012, the company is thought to have reached a turnover of €267.7m, with debt of €102m.

CVC declined to comment. 

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• Southern Europe
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• CVC Capital Partners