Mubadala Fund of Funds turned back this Friday, September 23, 2022 in the proposal to buy Burger King in Brazil. The revocation occurred because there was no guarantee of keeping unchanged franchise and licensing contracts of the brands Burger King and Popeys, if the purchase agreement was closed. For the Abu Dhabi sovereign wealth fund, the answer given by the franchisor Restaurant Brands International is an impediment for the execution of the acquisition operation of Zamp (current name of Burger King Brasil).

The purchase would be made through a public offering (OPA). Mubadala announced its interest in buying the business, offering BRL 7.55 per Zamp share, a value that rose to BRL 8.31 shortly after for 45.1% of the company. Currently, the fund owns 5% of the company.

After the announcement of the revocation of the purchase offer, Zamp's shares plummeted on Friday, dropping more than 5% by midday.