Santamarina y Steta advices Controladora Comercial Mexicana in the sale of Restaurantes California for the amount of $71’500, 000*
Mexico City March 27, 2015. Santamarina y Steta recently adviced and counseled Controladora Comercial Mexicana, S.A.B. de C.V. in a successful operation of $1,103 million pesos (approximately 71,500,000 USD) by selling the operation of Restaurantes California, S.A. de C.V., entity which operates two restaurant chains (Restaurantes California and Beer Factory) to Restaruantes Toks, S.A. de C.V. (Grupo Gigante, S.A.B. de C.V., subsidiariy).
The sale agreement included the operation of 46 Restaurantes California and 7 Beer Factory units.
Controladora Comercial Mexicana maintains ownership of real estate of Restaurantes California and rents them in the long run to Restaurante Toks.
The transaction allows Controladora Comercial Mexicana to focus on its main line of business of selling at retail through different formats of supermarkets.
The Santamarina y Steta team was led by the partner Alberto Saavedra, senior associate Alfonso Monroy and associates Luis Sánchez Tapia and Daniel Velázquez.
*Estimated amount in US Dollars.