Plutos Sama, LLC entered into an agreement to acquire Vapiano International LLC from Vapiano SE (DB:VAO) for $15 million on January 3, 2019. The purchase consideration will be paid in cash. As part of transaction, Vapiano will sell its 100% stake in Vapiano International and seven of its subsidiaries in US to Plutos Sama. In addition, five development agreements will be signed to open 75 additional franchise restaurants in Illinois, Washington D.C., Virginia, New York and New Jersey, from which Vapiano SE will receive one-time development fees totaling $5 million. The transaction is subject to customary closing conditions including obtaining financing for the purchase price by Plutos Sama and is expected to close in the first quarter of 2019. As on August 16, 2019 Vapiano SE and Plutos Sama, LLC have agreed to revoke the exclusivity granted to the purchaser by the purchase agreement for the sale of the shares in Vapiano Holding USA LLC and seven of its subsidiaries in the USA because Plutos Sama has not yet been able to secure the conditions for closing the transaction due to a delay in the realization of the financing.