Banco Inbursa Kicks Off Ece Acquisition

Mexican Banco Inbursa, owned by local business magnate Carlos Slim, has begun to buy restaurant franchise operator Ece via the Mexican Stock Exchange. The public share offering aims to acquire 36% of Ece’s listed share capital, or 55 million shares, for $0.5 million. Once completed, Ece will cease to be a listed company on the Exchange. Ece owns and manages the restaurant franchises in Mexico of Hard Rock Café, Planet Hollywood, Official All Star Cafe and Rainforest Café.