The master franchisee of Burger King in India and Indonesia, Restaurant Brands Asia, owned by private equity firm Everstone Capital, is in talks to sell its about 41 per cent ownership in the company.
According to reports, Jubilant Foodworks, which runs Domino’s in India, as well as a group of PE companies Advent International and General Atlantic are in discussions with the Singapore-based buyout firm.
As per the current data, Everstone Capital, through its investment vehicle QSR Asia, held a 40.9 per cent stake in Restaurant Brands as of 31 March. The stake was worth Rs 21.68 billion (USD 265.10 million) as of the stock’s closing price on Wednesday.
This news has been floating ever since the Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion. As per media reports, Everstone has been looking to sell its stake since October last year.