Jubilant FoodWorks Denies Vying For A Slice Of Burger King India

Jubilant FoodWorks, the operator of Domino’s Pizza in India, has categorically refuted media reports that the company was in the running to acquire a stake in Restaurant Brands Asia, the owner of Burger King India.

What Happened? Jubilant said in a regulatory filing late on Thursday that it “strongly refutes” any speculation about its intent to buy a stake in the operator of the quick-service restaurant chain.

Read Also: What’s Going On With Indigo Shares Today

Media reports on Thursday suggested that Jubilant and a private equity consortium of Advent International and General Atlantic as frontrunners to buy Everstone Capital’s stake in Restaurant Brands Asia.

Everstone has been reportedly looking to offload its 40.9% share in the lossmaking business since last year.

Price Action: Restaurant Brands Asia’s share price is down 2.3% at ₹119.70 in early trade, while Jubilant’s share price dropped 1.3% to ₹468.55.

See Also: Lenders Accuse Byju’s Of Hiding $500M, Seek Control Over Edtech Giant

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