Alsea Plans FO

Mexican food and beverage franchise operator Alsea is preparing to raise fresh equity capital in a follow-on offering, according to regulatory documents. The size and timing for the all-primary share sale have not been set. The issuer plans a local and international tranche, and plans to use proceeds to repay debt to improve its capital structure as it continues to expand. Banamex and Santander are managing. Alsea is known as the operator for brands such as Starbucks, Dominos Pizza and Burger King in Mexico and in other markets. Company officials recently announced a $110m plan to expand the Starbucks brand in Mexico and Argentina. Alsea shares closed at MXP20.23 Monday. It held an IPO in 1999.