Private equity firm Everstone Capital is in talks to sell its roughly 41% stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday.
The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino's in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said.
Everstone Capital, through its investment vehicle QSR Asia Pte Ltd, held a 40.9% stake in Restaurant Brands as of March 31, according to Refinitiv data.
The stake was worth 21.68 billion rupees ($265.10 million) as of the stock's closing price on Wednesday.
The stock jumped as much as 11% on Thursday, after the report, to touch a five-month high of 119 rupees.
Restaurant Brands, Everstone, Jubilant, and General Atlantic did not immediately respond to Reuters' request for comment. Advent declined to comment.
The report came a day after Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion. Read full story
Everstone has been looking to sell its stake since October last year, Reuters has reported.
Private equity firm Everstone Capital is in talks to sell its roughly 41% stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday. The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino's in India, as well as a ......
