Private equity firm Everstone is set to sell its entire stake, amounting to 11.26 per cent, in Restaurant Brands Asia, a franchisee operating in India and Indonesia for fast-food giant Burger King. Those familiar with the matter have confirmed that the deal will be announced soon.
Everstone Capital’s stake, held via its investment arm QSR Asia Pte Ltd, is presently valued at USD 57 million, based on Refinitiv data. Meanwhile, the market capitalisation of Restaurant Brands Asia stands at USD 437 million in Mumbai.
As part of the agreement, a new strategic investor will be introduced to Restaurant Brands Asia. The identity of this investor remains confidential at this point.
Despite repeated attempts, both Everstone and Restaurant Brands Asia have opted to not comment on the matter.
The family office of the founding members of Ajanta Pharma, an Indian pharmaceutical company, is reportedly taking a keen interest in this deal. The family office, which also operates in the restaurant business, is projected to invest up to INR 8 billion (equivalent to USD 88 million) into the company.
No comment could be obtained from the representatives of the family office either.
Although it’s unclear what percentage of the company Ajanta would acquire, it’s speculated that they may become the majority stakeholder over time as other shareholders divest their stakes.
In a recent communication with Indian stock exchanges, Restaurant Brands Asia announced upcoming board meeting plans to discuss and evaluate possible fundraising options, although no further information was provided.
What is the current stake of Everstone in Restaurant Brands Asia?
Everstone presently holds an 11.26 per cent stake in Restaurant Brands Asia.
Who is speculated to be the new strategic investor?
The family office of the founders of Ajanta Pharma is speculated to be the new strategic investor.
How much is the family office of Ajanta Pharma expected to invest?
They are expected to invest up to INR 8 billion (USD 88 million) into the company.
