Owner of the Vienna network gives up merger with Sapore

The Board of Directors of the International Meal Company (IMC), owner of the nets roasted chicken and Vienna, decided to terminate the association agreement with the Sapore, corporate dining company, according to material released in the night Monday, 17. The decision to call off the merger agreement, announced in June, took place after completion of audit provided for in the agreement, when, according to BMI, the suspensive conditions provided for in the agreement have not been implemented. "Given this, and given that there was no consensus with representatives of Sapore about certain issues identified in the audit, the Board of Directors of BMI, aiming to preserve the interest of the company and its shareholders, gathered in this date and decided to terminate the association agreement in accordance with laid down there, "said the IMC in fact. The Sapore and your Abanzai controller said they were surprised by the decision, without prior notice, and you are going to "get all the appropriate measures to defend their interests and protect the rights provided for in the Association Agreement. According to the Sapore, BMI was taken decision in spite of the agreement provide for "mechanism for the definition for third of divergent understandings between the parties regarding values", and that only two meetings were held between the parties on the partial results of the audits. Shares of IMC arrived to drop more than 8.0 percent, but ended up closing slightly high: valuation of 0.75%, quoted at R $6.72. History. The merger of IMC and Sapore, announced in June, a takeover bid of up to 24% of the shares of IMC at the price of R $9.30, so that the shareholders of Sapore would be holders of 41.79% of the share capital of IMC. The deal had been approved by the Administrative Council for economic Defense (Cade) in July.