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Everstone Exits Burger King India Stake
19 Jan
Summary
- Everstone Capital will sell its full 11.26% stake in Restaurant Brands Asia.
- The stake in Burger King's India and Indonesia franchisee is worth $57 million.
- Ajanta Pharma founders' family office may invest up to $88 million.
Everstone Capital is set to sell its complete 11.26% ownership in Restaurant Brands Asia, the entity managing Burger King franchises across India and Indonesia. This significant divestment, valued at approximately $57 million based on current market data, marks a major shift for the private equity firm.
Restaurant Brands Asia, which has a market capitalization of $437 million in Mumbai, is preparing to welcome a new strategic investor through this transaction. Industry reports suggest the family office of Ajanta Pharma's founders, already involved in other restaurant ventures, is the frontrunner to take a substantial stake.
This potential new investor might inject up to 8 billion Indian rupees ($88 million) into the company. While the exact initial stake is not yet clear, there are indications that this investor could pursue a majority holding over time as other shareholders exit.
