Everstone Sells Stake in Restaurant Brands Asia for Rs 113 Crore

New Delhi, Sep 18 (PTI) Promoter entity Everstone Capital on Wednesday sold a 2.16 per cent stake in Restaurant Brands Asia for Rs 113 crore through an open market transaction while Mirae Asset Mutual Fund picked up a stake in the company.

Restaurant Brands Asia, formerly known as Burger King India Ltd, is a part of US-based Restaurant Brands International Inc. It owns four of the world's most prominent and iconic QSR brands - Tim Hortons, Burger King, Popeyes and Firehouse Subs.

According to the block deal data available on the NSE, Singapore-based private equity firm Everstone Capital via its investment vehicle QSR Asia Pte sold more than 1.07 crore shares, amounting to a 2.16 per cent stake in Restaurant Brands Asia (RBA).

The shares were disposed of at an average price of Rs 105 apiece, taking the transaction value to Rs 112.83 crore.

After the stake sale, Everstone Capital's stake in RBA has declined to 13.17 per cent from 15.33 per cent.

These shares were purchased by Mirae Asset Mutual Fund at the same price, the data showed on the National Stock Exchange (NSE).

Shares of Restaurant Brands Asia rose 2.83 per cent to close at Rs 107 apiece on the NSE.

Everstone Capital, a part of the Everstone Group, is one of Asia's premier investment groups and has assets of USD 7 billion across private equity, and venture capital.

Restaurant Brands International is one of the world's largest quick service restaurant (QSR) companies with over USD 40 billion in annual sales and over 30,000 restaurants in more than 120 countries and territories.