Starbucks Franchisee Alsea Raises $530 Million in Share Sale

Alsea SAB (ALSEA*), operator of Starbucks Inc. and Burger King chains in Mexico, said it raised 6.9 billion pesos ($530 million) in a secondary share sale yesterday.

The company sold the shares for 45.75 pesos each, according to an e-mailed statement today. The offering included 150.8 million shares, distributed “in a balanced way” between local and foreign investors, and Alsea will use the proceeds to pay off bank debt, according to the statement. Alsea said demand totaled 6.5 times the amount of shares offered.

Alsea jumped 3.1 percent to 47.55 pesos at 9:20 a.m. in Mexico City trading. The stock is the best performer among the 35 members of the IPC index, which is little changed.

Citigroup Inc., Banco Bilbao Vizcaya Argentaria SA and HSBC Holdings Plc were managing the deal, according to a separate filing.

Alsea, which also operates P.F. Chang’s and Domino’s Pizza Inc. locations in Mexico, agreed last year to buy Vips restaurants from Wal-Mart de Mexico SAB for 8.2 billion pesos. The company held an initial public offering in 1999.

To contact the reporters on this story: Jonathan Levin in Sao Paulo at; Ben Bain in Mexico City at; Jose Enrique Arrioja in New York at

To contact the editors responsible for this story: Brendan Walsh at Carlos Manuel Rodriguez, Bradley Keoun

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.