<div>
	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.<br />
	<div>
		The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino&#39;s in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said.</div>
</div>
<br />


India's Burger King franchisee

<div>
	<div>
		The report came a day after Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion.</div>
</div>
<div>
	<div>
		&nbsp;</div>
</div>
<div>
	Everstone has been looking to sell its stake since October last year, Reuters has reported.
	<div>
		($1 = 81.7800 Indian rupees)</div>
</div>
<br />


Advent declined to comment.

<p>
	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.</p>
<p>
	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.</p>


Burger King's India operator posts 

<p>
	However, total expenses also rose roughly 29%, taking the shine off the topline growth of the company, which also operates Restaurant Brands International&#39;s Popeyes restaurants in India and Indonesia.</p>
<p>
	Restaurant Brands Asia&#39;s shares closed marginally lower on Wednesday before it reported results. They have fallen 4% so far this year. ($1 = 81.7800 Indian rupees)</p>


Total Expenses & Growth

<p>
	Earlier in the day, Domino&#39;s franchisee Jubilant Foodworks and KFC-operator Devyani International also reported downbeat results, in line with the performances of McDonald&#39;s-operator Westlife FoodWorld and Yum Brands franchisee Sapphire Foods.</p>
<p>
	Restaurant Brands Asia&#39;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.</p>
<p>
	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.</p>


Domino's franchisee and KFC-operator

_media/bs/ado/article-speech/123051800015-1684826442766.mp3

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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			India&#39;s Burger King franchisee</h2>
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		<div class="pti">
			&nbsp;</div>
	</div>
	<div class="bB1">
		<div class="p-content">
			<p>
				&nbsp;</p>
			<div>
				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.<br />
				<div>
					The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino&#39;s in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said.</div>
			</div>
			<br />
			<p>
				&nbsp;</p>
		</div>
	</div>
	<div class="pT10">
		<h2 class="title-lower photo-post-title">
			Advent declined to comment.</h2>
	</div>
	<div class="story-img">
		<img alt="Advent declined to comment." class="photo-post-story" mediaid="" src="https://bsmediappd.business-standard.com/_media/bs/img/article/2023-05/15/full/1684146061-34.png" title="Advent declined to comment." />
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		<div class="pti">
			&nbsp;</div>
	</div>
	<div class="bB1">
		<div class="p-content">
			<p>
				&nbsp;</p>
			<div>
				<div>
					The report came a day after Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion.</div>
			</div>
			<br />
			<div>
				Everstone has been looking to sell its stake since October last year, Reuters has reported.
				<div>
					($1 = 81.7800 Indian rupees)</div>
			</div>
			<br />
			<p>
				&nbsp;</p>
		</div>
	</div>
	<div class="pT10">
		<h2 class="title-lower photo-post-title">
			Burger King&#39;s India operator posts</h2>
	</div>
	<div class="story-img">
		<img alt="Burger King's India operator posts " class="photo-post-story" mediaid="" src="https://bsmediappd.business-standard.com/_media/bs/img/article/2023-04/14/full/1681469281-5312.png" title="Burger King's India operator posts " />
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		<div class="pti">
			&nbsp;</div>
	</div>
	<div class="bB1">
		<div class="p-content">
			<p>
				&nbsp;</p>
			<p>
				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.</p>
			<p>
				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.</p>
			<p>
				&nbsp;</p>
		</div>
	</div>
	<div class="pT10">
		<h2 class="title-lower photo-post-title">
			Total Expenses & Growth</h2>
	</div>
	<div class="story-img">
		<img alt="Total Expenses & Growth" class="photo-post-story" mediaid="" src="https://bsmediappd.business-standard.com/_media/bs/img/article/2023-04/18/full/1681800671-2688.jpg" title="Total Expenses & Growth" />
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			&nbsp;</div>
	</div>
	<div class="bB1">
		<div class="p-content">
			<p>
				&nbsp;</p>
			<p>
				However, total expenses also rose roughly 29%, taking the shine off the topline growth of the company, which also operates Restaurant Brands International&#39;s Popeyes restaurants in India and Indonesia.</p>
			<p>
				Restaurant Brands Asia&#39;s shares closed marginally lower on Wednesday before it reported results. They have fallen 4% so far this year. ($1 = 81.7800 Indian rupees)</p>
			<p>
				&nbsp;</p>
		</div>
	</div>
	<div class="pT10">
		<h2 class="title-lower photo-post-title">
			Domino&#39;s franchisee and KFC-operator</h2>
	</div>
	<div class="story-img">
		<img alt="Domino's franchisee and KFC-operator" class="photo-post-story" mediaid="" src="https://bsmediappd.business-standard.com/_media/bs/img/article/2023-04/10/full/1681127191-8869.jpg" title="Domino's franchisee and KFC-operator" />
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		</div>
		<div class="pti">
			&nbsp;</div>
	</div>
	<div class="bB1">
		<div class="p-content">
			<p>
				&nbsp;</p>
			<p>
				Earlier in the day, Domino&#39;s franchisee Jubilant Foodworks and KFC-operator Devyani International also reported downbeat results, in line with the performances of McDonald&#39;s-operator Westlife FoodWorld and Yum Brands franchisee Sapphire Foods.</p>
			<p>
				Restaurant Brands Asia&#39;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.</p>
			<p>
				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.</p>
			<p>
				&nbsp;</p>
		</div>
	</div>
</div>
<br />

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

Business Standard

Everstone in talks to sell 41% stake in India's Burger King franchisee | Agriculture - Business Standard

Covid-19 cases have risen to their highest level in around four months. From less than 200 cases across India at the end of February, India reported 1,134 cases on March 21st

PM Modi

The high-level meeting, chaired by the PM, came against the backdrop of a spike in influenza as well as Covid-19 cases in the past two weeks

Surge in demand for Covishield led to a huge spike in its revenues and profits

Serum Institute

The Bee, the Beetle and the Money Bug is a welcome addition to the rather sparse list of books that attempt to equip readers with the fundamentals of financial planning

The Bee, the Beetle and the Money Bug

Important for students to know about value of money, rate of return, mutual funds etc, says Tejasvi Surya

Tejasvi Surya

The company also introduced a new gesture for hands-based locomotion, which you can try out in the latest version of First Hand

Meta Quest Pro

A federal judge has sided with Facebook parent Meta and cleared the way for the company to buy virtual reality startup Within Unlimited, the maker of the popular fitness app Supernatural.
Federal antitrust regulators had sought to block the acquisition on the grounds that it would hurt competition in the emerging virtual reality market.
But U.S. District Judge Edward Davila denied the Federal Trade Commission's request for a preliminary injunction against the deal. The judge's ruling said the agency did not provide sufficient evidence to prove its case.
Meta said it will now proceed with its acquisition of Within Unlimited.
The FTC had argued that Meta's acquisition of the small company  reminiscent of Facebook's early purchases of Instagram and WhatsApp  would hurt competition in the emerging virtual reality market.
Allowing the tech giant to buy Los Angeles-based Within Unlimited, the FTC had argued, would violate antitrust laws and dampen innovation, hurting consumers who may f

Meta, facebook

A federal judge has sided with Facebook parent Meta and cleared the way for the company to buy virtual reality startup Within Unlimited, the maker of the popular fitness app Supernatural

Assam Chief Minister Himanta Biswa Sarma on Tuesday launched the Mission Lifestyle for Environment' (LiFE) in the state, a global mass movement under the leadership of Prime Minister Narendra Modi.
Sarma said it promotes an environmentally conscious lifestyle, focusing on utilisation instead of wasteful consumption.
Under this initiative, week-long activities will be carried out across all districts, addressing seven identified categories, including saving energy and water, reducing plastic and e-waste, and healthy lifestyles, he said.
Sarma said in known and unknown ways we work against nature creating problems for humanity, leading to challenges with which humans, plants and the animal kingdom have to deal.
Earlier, we could predict the seasonal changes but now things have changed mostly due to loss of green cover, wetlands and other natural bodies, and many research papers have pointed out that North East India will face severe impacts of climate change, the CM said.
Over the l

Guwahati: Assam Chief Minister Himanta Biswa Sarma speaks during a press conference organised to commemorate the completion of 8 years of Prime Minister Narendra Modi's BJP-led government at the centre, at BJP state office in Guwahati, Wednesday, Jun

Himanta Biswa Sarma

Assam Chief Minister Himanta Biswa Sarma on Tuesday launched the Mission Lifestyle for Environment' (LiFE) in the state, a global mass movement under the leadership of Prime Minister Narendra Modi

There is a serious failure of Jharkhand in preventing the continued "environmental lawlessness", the National Green Tribunal observed while hearing petitions regarding alleged violations of environmental norms by quarrying and crushing units in the Rajmahal hills.
The green panel also directed the chief secretary to personally monitor compliance as there was "much to be desired in remedial action against gross continuing violations in spite of categorical orders".
The tribunal was hearing petitions that claimed that stone-crushing and mining companies in the Rajmahal hills of Sahebganj district were indulging in indiscriminate mining without regard for environmental norms.
The hills are blown up, huge dust is generated and air and water pollution is caused -- to the detriment of the environment and public health -- during the process, the petitions alleged.
A bench of Chairperson Justice AK Goel said despite several orders -- including prohibiting illegal mining and non-compliant .

National Green Tribunal, NGT

The tribunal noted that, in pursuance to its August 2022 order, an earlier panel had submitted an action taken report in January and a supplementary report dated March 14

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Russia-Ukraine War

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

&amp;nbsp;

After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
						&amp;nbsp;

Brazil elections

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Google Messages

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

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Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

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Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

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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