Everstone in talks to sell 41% stake in India's Burger King franchisee

India's Burger King franchisee1 / 5 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. Advent declined to comment.2 / 5 The report came a day after Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion.Everstone has been looking to sell its stake since October last year, Reuters has reported.($1 = 81.7800 Indian rupees) Burger King's India operator posts3 / 5 Restaurant Brands Asia Ltd, earlier known as Burger King India, reported a wider fourth-quarter loss on Wednesday, as it spent more on ingredients at a time when it is also expanding in India and Indonesia.Restaurants in India have been feeling the pinch from rising costs of essentials such as cheese and milk, with expenses rising in recent quarters even as prices of vegetables have eased off their highs. Total Expenses & Growth4 / 5 However, total expenses also rose roughly 29%, taking the shine off the topline growth of the company, which also operates Restaurant Brands International's Popeyes restaurants in India and Indonesia.Restaurant Brands Asia's shares closed marginally lower on Wednesday before it reported results. They have fallen 4% so far this year. ($1 = 81.7800 Indian rupees) Domino's franchisee and KFC-operator5 / 5 Earlier in the day, Domino's franchisee Jubilant Foodworks and KFC-operator Devyani International also reported downbeat results, in line with the performances of McDonald's-operator Westlife FoodWorld and Yum Brands franchisee Sapphire Foods.Restaurant Brands Asia's consolidated net loss widened to 733.7 million rupees (nearly $9 million) in the quarter ended March 31, from 670.7 million rupees a year earlier.Its revenue from operations increased nearly 29% to 5.14 billion rupees as it opened tens of new restaurants over the past year to enter new cities and fend off competition.

Everstone in talks to sell 41% stake in India's Burger King franchisee

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

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