Klepierre buys restaurants from Buffalo Grill

Retail

Klepierre SA, a French real-estate company controlled by BNP Paribas SA, said it agreed to buy 128 restaurants from Buffalo Grill SA for € 298 million ($381 million). Klepierre will buy 66 of the restaurants by the end of the year and the remainder by the end of 2007, it said in an e-mailed statement. Kleppier is buying the buildings, not the restaurant operations. Klepierre, based in Paris, said it also has the option to acquire 30 new restaurants that are planned or under construction for a possible investment of € 69 million. (Bloomberg)

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