Everstone Capital, a promoter entity, sold a 2.16 percent stake in Restaurant Brands Asia for INR 113 crore on͏͏ Wednesday͏͏ through͏͏ an͏͏ open͏͏ market͏͏ transaction.͏͏ Meanwhile,͏͏ Mirae͏͏ Asset͏͏ Mutual͏͏ Fund͏͏ acquired͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ company.͏͏ Formerly͏͏ known͏͏ as͏͏ Burger͏͏ King͏͏ India͏͏ Ltd,͏͏ Restaurant͏͏ Brands͏͏ Asia͏͏ is͏͏ part͏͏ of͏͏ US-based͏͏ Restaurant͏͏ Brands͏͏ International͏͏ Inc.,͏͏ which͏͏ owns͏͏ four͏͏ iconic͏͏ QSR͏͏ brands—Tim͏͏ Hortons,͏͏ Burger͏͏ King,͏͏ Popeyes,͏͏ and͏͏ Firehouse͏͏ Subs.
Block͏͏ deal͏͏ data͏͏ from͏͏ the͏͏ NSE͏͏ shows͏͏ that͏͏ Singapore-based͏͏ private͏͏ equity͏͏ firm͏͏ Everstone͏͏ Capital,͏͏ through͏͏ its͏͏ investment͏͏ vehicle͏͏ QSR͏͏ Asia͏͏ Pte,͏͏ sold͏͏ over͏͏ 1.07͏͏ crore͏͏ shares,͏͏ representing͏͏ a͏͏ 2.16͏͏ percent͏͏ stake͏͏ in͏͏ Restaurant͏͏ Brands͏͏ Asia͏͏ (RBA).
The͏͏ shares͏͏ were͏͏ sold͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 105͏͏ each,͏͏ bringing͏͏ the͏͏ total͏͏ transaction͏͏ value͏͏ to͏͏ INR͏͏ 112.83͏͏ crore.
Everstone’s͏͏ Holding͏͏ Falls͏͏ to͏͏ 13.17%:
Following͏͏ the͏͏ stake͏͏ sale,͏͏ Everstone͏͏ Capital’s͏͏ holding͏͏ in͏͏ RBA͏͏ decreased͏͏ from͏͏ 15.33͏͏ percent͏͏ to͏͏ 13.17͏͏ percent.
Continue͏͏ Exploring:͏͏ Everstone Capital cashes͏͏ in͏͏ on͏͏ surging͏͏ market,͏͏ sells͏͏ 25%͏͏ stake͏͏ in͏͏ Restaurant Brands Asia
Mirae͏͏ Asset͏͏ Buys͏͏ Into͏͏ RBA:
Mirae͏͏ Asset͏͏ Mutual͏͏ Fund͏͏ purchased͏͏ these͏͏ shares͏͏ at͏͏ the͏͏ same͏͏ price,͏͏ according͏͏ to͏͏ data͏͏ from͏͏ the͏͏ National͏͏ Stock͏͏ Exchange͏͏ (NSE).
Restaurant͏͏ Brands͏͏ Asia͏͏ shares͏͏ increased͏͏ by͏͏ 2.83͏͏ percent,͏͏ closing͏͏ at͏͏ INR͏͏ 107͏͏ each͏͏ on͏͏ the͏͏ NSE.
Everstone͏͏ Capital,͏͏ part͏͏ of͏͏ the͏͏ Everstone͏͏ Group,͏͏ is͏͏ one͏͏ of͏͏ Asia’s͏͏ leading͏͏ investment͏͏ firms,͏͏ managing͏͏ assets͏͏ worth͏͏ USD͏͏ 7͏͏ billion͏͏ across͏͏ private͏͏ equity͏͏ and͏͏ venture͏͏ capital.
Restaurant͏͏ Brands͏͏ International͏͏ is͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ quick͏͏ service͏͏ restaurant͏͏ (QSR)͏͏ companies͏͏ globally,͏͏ generating͏͏ over͏͏ USD͏͏ 40͏͏ billion͏͏ in͏͏ annual͏͏ sales͏͏ with͏͏ more͏͏ than͏͏ 30,000͏͏ restaurants͏͏ across͏͏ 120+͏͏ countries͏͏ and͏͏ territories.
