McDonald’s franchisee Arcos Dorados files and announces terms for $874 million IPO
Arcos Dorados Holdings Inc., the world's largest McDonald's franchisee with 1,755 restaurants in Latin America and the Caribbean, filed and announced terms for its IPO on Friday. The Buenos Aires, Argentina-based company plans to raise $874 million by offering 62.5 million shares at a price range of $13 to $15. At the mid-point of the proposed range, Arcos Dorados will command a market value of $3 billion. Arcos Dorados, which was founded in 2007 and booked $3 billion in sales last year, plans to list on the NYSE under the symbol ARCO. BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are the lead underwriters on the deal.
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