Burger King India Limited (BSE:543248) agreed to acquire 83.24% stake in PT Sari Burger Indonesia from QSR Indoburger Pte. Ltd. and others on August 27, 2021. Burger King India Limited (BSE:543248) entered into sale and purchase agreement to acquire a 83.24% stake in PT Sari Burger Indonesia from QSR Indoburger Pte. Ltd. and PT. Mitra Adiperkasa Tbk (IDX:MAPI) on December 16, 2021. The consideration will be paid on a cash free and debt free basis. In Board meeting the proposal of raising of funds by way of further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes (in one or more tranches), for an aggregate amount. For the year ended December 31, 2020 Sari Burger recorded the revenues of IDR 1113673 million. On May 30, 2022, Sumit Zaveri is elevated from the position of Chief Financial Officer and appointed as Group Chief Financial Officer and Chief Business Officer of the Company w.e.f. June 1, 2022. Sameer Patel is appointed as the Chief Financial Officer (India) and Key Managerial Personnel of the Company w.e.f. June 1, 2022. The deal is subject to approval from burger king board and shareholders, third party approval, consummation of due diligence. The deal was approved by the board of Burger King India on December, 15, 2021. The deal is expected to close by March 31, 2022. Jamie McLaren of Herbert Smith LLP, Singapore and Teguh Arwiko of Hiswara Bunjamin & Tandjung acted as legal advisor to PT. Mitra Adiperkasa Tbk and QSR Indoburger Pte. Ltd. Cyril Amarchand Mangaldas acted as legal advisor to Restaurant Brands Asia Limited. RBSA Capital Advisors LLP acted as buy-side valuation advisor to Restaurant Brands Asia Limited.

Restaurant Brands Asia Limited (BSE:543248) completed the acquisition of 83.24% stake in PT Sari Burger Indonesia from QSR Indoburger Pte. Ltd. and others for IDR 1404.322 billion on March 9, 2022.