New Delhi: Everstone Capital, a promoter entity, recently offloaded a 2.16 pc share in Restaurant Brands Asia for Rs 113 crore in an open market deal, with Mirae Asset Mutual Fund acquiring a stake in the same company. Restaurant Brands Asia was previously Burger King India Ltd and is now a division of Restaurant Brands International Inc from the US. It possesses four of the most well-known QSR brands globally: Tim Hortons, Burger King, Popeyes, and Firehouse Subs. Based on block deal data from the NSE, Everstone Capital from Singapore divested over 1.07 crore shares, equivalent to a 2.16 pc stake in Restaurant Brands Asia (RBA) through its investment entity QSR Asia Pte.
The stocks were sold for an average of Rs 105 each, resulting in a total transaction value of Rs 112.83 crore. Following the stake sale, Everstone Capital now holds a reduced stake of 13.17 per cent in RBA, down from 15.33 per cent. The Mirae Asset Mutual Fund bought these shares at the same price as indicated on the National Stock Exchange (NSE) data.
Restaurant Brands Asia's shares surged by 2.83 per cent, ending the day at Rs 107 each on the NSE. Everstone Capital, a member of the Everstone Group, is a top investment group in Asia with USD 7 billion in assets in private equity and venture capital. Restaurant Brands International is among the biggest quick-service restaurant (QSR) companies globally, boasting more than USD 40 billion in annual sales and operating over 30,000 restaurants in over 120 countries and territories.
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