On Friday, Everstone Capital divested a 25.3% stake in Restaurant Brands Asia, the parent company of Burger King in India, for Rs 1,494 crore through an open market transaction.
The shares were sold on the NSE and the buyer list includes Amal N Parikh, Tata Mutual Fund, Quant MF, Plutus Wealth Management LLP, Franklin Singapore 3 Banken Asia Stock-Mix, Avendus Absolute Return Fund, ICICI Prudential Life Insurance, Goldman Sachs, TD Emerging Markets Fund, and Societe Generale, among others.
Qsr Asia Pte Ltd, an investment vehicle of Everstone Capital, sold 12,54,41,820 shares, amounting to a 25.3% stake in Restaurant Brands Asia at an average price of Rs 119.10 apiece.
After the transaction, Qsr Asia Pte’s shareholding has declined to 15.44% from 40.80% in Restaurant Brands Asia.
Restaurant Brands Asia Ltd is the leading quick service restaurants chain operator of Burger King India and Popeyes in the country. It is the second-largest fast-food chain, which opened its first restaurant in India in 2014.
The deal value of the transaction is worth Rs 1,494 crore.
Following the announcement, shares of Restaurant Brands Asia jumped 6.36% to close at Rs 127.95 apiece on the NSE. The company confirmed the sale of over 12.54 crore shares, amounting to a 25.36% stake in RBA, in an exchange filing.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.