Fox News, 7/30/2012
Rubaiyat, which operates three steakhouses in Brazil and one in Spain, plans to open restaurants next year in Mexico City and Bogota after selling a large stake to a Spanish investment fund, a top executive told the weekly Veja.
The infusion of cash from the Spanish investors will allow the restaurant company, which got its start in Sao Paulo, to expand internationally, general manager Belarmino Fernandez Iglesias Filho said.
The executive said he would continue to run the company even though his family no longer has a controlling interest.
Rubaiyat, which serves about 600,000 customers annually at its three locations in Sao Paulo and its Madrid eatery, wants to open 10 restaurants over the next four years in other cities in Brazil, different countries in Latin America and the United States, the executive said.