Restaurant Brands Asia completes acquisition of 87.75% in BK Indonesia

Restaurant Brands Asia Limited ("Company") has successfully completed the acquisition of controlling stake of 87.75% in PT Sari Burger Indonesia ("BK Indonesia") on March 9, 2022 as per the terms of the sale and purchase agreement executed by and amongst the Company, QSR Indoburger Pte. Ltd. ("QSR Indo"), PT Mitra Adiperkasa TBK ("MAP"), F&B Asia Ventures (Singapore) Pte. Ltd. and BK Indonesia on December 16, 2021 ("SPA") and the Share Subscription cum Shareholders' Agreement executed between the Company, PT Mitra Adiperkasa TBK, and BK Indonesia on December 16, 2021, as amended ("SSHA"), including the following:

- purchase of 416,796 equity shares from QSR Indo and MAP at IDR 3,369,328.80 per equity share for an aggregate amount of IDR 1,404,322,766,525; and

- subscribing to 184,346 fresh equity shares of BK Indo at IDR 3,369,328.80 per equity share, for an aggregate amount of IDR 621,122,286,965, in the manner as determined pursuant to the SPA and on such terms and conditions as agreed in the SSHA.

Consequent to the above, BK Indonesia has become a subsidiary of the Company wherein the Company holds 87.75% of the equity shares in BK Indonesia.

Shares of Burger King India Limited was last trading in BSE at Rs. 108.85 as compared to the previous close of Rs. 105.70. The total number of shares traded during the day was 100841 in over 2246 trades.

The stock hit an intraday high of Rs. 111.15 and intraday low of 105.30. The net turnover during the day was Rs. 10862541.00.

Source : Equity Bulls

Keywords

BurgerKingIndia INE07T201019 RestaurantBrandsAsia Acquisition PTSariBurgerIndonesia