Private equity firm Everstone Capital is in talks to sell its roughly 41 per cent stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday.
The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino’s in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said.
Everstone Capital, through its investment vehicle QSR Asia Pte Ltd, held a 40.9 per cent stake in Restaurant Brands as of March 31, according to Refinitiv data.
The stake was worth Rs 21.68 billion ($265.10 million) as of the stock’s closing price on Wednesday.
The stock jumped as much as 11 per cent on Thursday, after the report, to touch a five-month high of Rs 119.
Restaurant Brands, Everstone, Jubilant, and General Atlantic did not immediately respond to Reuters’ request for comment.