KKR has launched a $493m takeover offer for Spain’s Telepizza after buying around a quarter of the fast-food restaurant chain’s shares. KKR plans to de-list the company after the $7 per share buyout. The US private equity firm has secured commitments from holders of 12.7% of Telepizza’s shares to take part in the offer, bringing its stake above the regulatory threshold of 30%, which would trigger a mandatory takeover bid.