A plan to buy Acapulco Restaurants was finalized.

As previously announced, the chain will be acquired by Restaurant Associates Industries through a merger of Acapulco and a newly created unit of RAI. Acapulco shareholders will receive one share of a new issue of RAI non-voting, convertible preferred for each share of Acapulco common. The preferred will be convertible into a new class of RAI common, Class A. RAI said that, under a recapitalization plan approved by shareholders, the par value of shares of its existing common will be reduced to 10 cents from $1 per share and will be redesignated as Class B, convertible into Class A.