Private equity firm Everstone Capital Asia Pte Ltd is set to sell a 20% stake in Burger King Worldwide, Inc.'s Indian arm in a deal that could value the company at $300 million to $350 million, The Economic Times (India) reported Sep. 3. citing people familiar with the development.
According to the report, a total of about 30% to 35% of Burger King India will be sold through primary and secondary offerings.
Everstone holds about 88% of the burger giant's Indian unit and will remain the controlling stakeholder after the transaction. Burger King Worldwide owns the remaining 12%.
Advisory firm EY will run the sale process, which is likely to be launched in a few weeks, one of the sources added.
Both Everstone Capital and EY declined to comment on the matter, the report said.