Brazilian private equity firm 3G Capital Partners Ltd sold shares in Restaurant ...
An affiliate of 3G Capital Partners Ltd is selling about 40 million shares, reducing its stake in the Burger King and Tim Hortons owner to 32.1% from 41%.
Last month, it sold 24 million shares at $72.50 per share, raising $1.74 billion. On Tuesday, it agreed to sell the remaining 17 million to Morgan Stanley & Co LLC to raise about $1.3 billion, based on the company’s closing price on Tuesday. Sources told Reuters that Morgan Stanley re-offered the latest block of U.S.-listed shares at $75.50, at the bottom end of its marketed range of $75.50-$76.50.Shares of the company were down 2.5% in morning trading.
Restaurant Brands, which also owns fast-food restaurant chain Popeyes Louisiana Kitchen, reported a better-than-expected quarterly profit last month, as product launches including the Impossible Whopper drew diners to Burger King. Reporting by Arathy S Nair in Bengaluru and Lance Tupper in New York; Editing by Saumyadeb Chakrabarty
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