19 Oct 2011 08:13
19 October 2011
Brainspark plc
("Brainspark" or "the Company")
Investment in Sosushi Chain of Restaurants
Brainspark plc (AIM: BSP), a fast growing international investment company, is pleased to announce that it has acquired a 20 per cent. stake and an option to acquire a further 31 per cent. stake in You Can Group srl, the holding company for Italy's largest Japanese restaurant chain, Sosushi, for a consideration of 1,750,000 Brainspark new ordinary shares.
The stake and the option have been transferred to Mediapolis SpA ("Mediapolis"), the Company's subsidiary active in the development of a theme park near Turin, as consideration in exchange for the Company's participation to Mediapolis' increase in capital.
Mediapolis has an option to buy an additional 31 per cent. of You Can for EUR 1.2 million to be exercised on or before 15 November 2011. If exercised, Mediapolis will control 51 per cent. of You Can Group srl.
Sosushi was founded in 2006 and has over 30 restaurants in prime city locations, including Rome and Milan, and with plans to expand internationally in late 2011.
Additonally, Brainspark has sold, at cost, its stake in AIM listed Indian Restaurant Group plc.
CEO and Chairman of Brainspark, Alfredo Villa, commented, "We continue to strengthen our portfolio with the addition of this exciting restaurant chain. Our strategy is for the Company, through its subsidiary Mediapolis, to become a leading diversified leisure group within Italy."
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For further information please contact:
Brainspark plc +39 02 525 051
Alfredo Villa, Chairman and CEO
Arbuthnot Securities +44(0) 20 7012 2000
Antonio Bossi / Ed Groome
Leander PR +44(0) 7795 168 157
Christian Taylor-Wilkinson
About Brainspark Plc
Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.