Singapore private equity fund and real estate developer "Everstone" is planning to sell its stake in Restaurant Brands Asia, a Burger King franchisee in India and Indonesia.

(Schematic, Reuters)

[Financial Channel/Comprehensive Report] Foreign media reported that Singapore private equity fund and real estate developer “Everstone” plans to sell its stake in “Restaurant Brands Asia” worth up to US$314 million (about NT$10 billion).

According to Reuters, Restaurant Brands Asia is Burger King's main franchisee in India and Indonesia, formerly known as Burger King India.

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The report pointed out that Restaurant Brands Asia was established in 2013 when Burger King entered into a partnership with Everstone to enter the Indian market.

Everstone holds about 40.9% of Restaurant Brands through QSR Asia Pte Ltd.

However, with the recent slowdown of the Wuhan pneumonia epidemic in India and Indonesia, Everstone is now considering selling its shares in Restaurant Brands.

Everstone is currently in talks with an adviser about a potential sale, according to sources.

Everstone declined to comment on the report, while Restaurant Brands Asia did not respond to a request for comment.

Restaurant Brands' shares closed at $53.65 on the 14th, down 056%.

According to the data, as of the end of March this year, Restaurant Brands Asia owned Burger King's exclusive national franchises in India and Indonesia and operated 177 restaurants.

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