Latest News | Everstone Capital Pares 25.3 Pc Stake in Burger King Owner Restaurant Brands Asia for Rs 1,494 Crore

New Delhi, Sep 15 (PTI) A promoter of Restaurant Brands Asia, which owns Burger King brand in India, on Friday divested a 25.3 per cent stake in the firm for Rs 1,494 crore through an open market transaction.

Everstone Capital through its investment vehicle Qsr Asia Pte Ltd offloaded the shares of the Restaurant Brands Asia on the NSE and the latter is a part of Singapore-headquartered Everstone Group.

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Amal N Parikh, Tata Mutual Fund (MF), 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 were the buyers of the shares.

According to the block deal data available with the NSE, Qsr Asia Pte sold 12,54,41,820 shares, amounting to a 25.3 per cent stake in Restaurant Brands Asia.

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The shares were disposed of at an average price of Rs 119.10 apiece, taking the transaction value to Rs 1,494 crore.

After the transaction, Qsr Asia Pte's shareholding has declined to 15.44 per cent from 40.80 per cent in Restaurant Brands Asia (RBA).

Shares of Restaurant Brands Asia jumped 6.36 per cent to close at Rs 127.95 apiece on the NSE.

In a exchange filing, the company confirmed that its promoter Qsr Asia Pte has sold more than 12.54 crore shares, amounting to a 25.36 per cent in RBA.

The deal value to the transaction is worth Rs 1,494 crore.

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 above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)