Restaurant Brands completes acquisition of controlling stake in BK Indonesia

10 Mar 2022 , 02:17 PM

Restaurant Brands Asia Limited ((Formerly known as Burger King India Limited) has successfully completed the acquisition of controlling stake of 87.75% in PT Sari Burger Indonesia (BK Indonesia) on March 9, 2022.

The acquisition was as per the terms of the sale and purchase agreement executed by and amongst the Company, QSR Indoburger Pte. Ltd., 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:

a) 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
b) 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.

At around 2.20 pm, Restaurant Brands Asia Limited was tarding at Rs108.95 per piece up Rs0.10 or 0.09% on the BSE.