A Bite At Burger King: India Owner Shortlists 2 Bidders For Stake Sale

Jubilant FoodWorks, the operator of Domino’s in India, and a private equity consortium of Advent International and General Atlantic are reportedly the two shortlisted suitors to buy Everstone Capital‘s stake in Restaurant Brands Asia, formerly known as Burger King India.

What Happened? Everstone Capital is reportedly in final talks to offload its 40.9% stake in the restaurant chain, and its bankers have shortlisted two candidates for the same, CNBC-Awaaz reported, citing sources.

Everstone has reportedly been looking to sell its entire ₹2,339.5 crore stake in the loss-making quick-service restaurant chain since last year.

See Also: Domino’s India Operator Jubilant FoodWorks’ Shares Jump On Strong Q4 Revenue

Restaurant Brands Asia on Wednesday posted a loss of ₹73.4 crore loss in the quarter ended March 31, wider than the ₹67.1 crore loss it posted a year earlier.

Price Action: Restaurant Brands Asia’s stock was up 9.14% to ₹116.7, while Jubilant FoodWorks’ share price was down 1.1% to ₹475.35 in early trade.

Read Next: What Is Swiggy Share Price And How To Buy?

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsAsset SalesMarketsBurger KingEverstone CapitalJubilant FoodWorksRestaurant Brands Asia