Bloomin' Brands sells 67% stake in Brazil ops for R$1.4B (~$243M) to Vinci Partners

Bloomin' Brands, Inc.

Enterprise value of Brazil ops set at R$2.06B; purchase price for 67% is R$1.4B (~$243M), paid 52% at close, 48% one year later.
Closing expected on or before Dec 31, 2024; Bloomin' retains 33% indirect interest.
Post-closing, Brazil restaurants operated as unconsolidated franchisees under amended franchise agreements.
Buyer is fund managed by Vinci Partners; shareholders agreement includes put-call mechanism from 2028.
Seller uses FX forward contracts to mitigate exchange rate risk; proceeds subject to working capital adjustments.

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