Everstone Capital Asia Pte Ltd. is in talks with General Atlantic Service Company, L.P. to sell its stake in the India master franchise of American fast-food restaurant chain Burger King, people directly aware of the matter said. Everstone Capital, through its investment vehicle QSR Asia Pte. Ltd., holds a 40.9% stake in Restaurant Brands Asia Limited (NSEI:RBA), which holds the licence to operate Burger King restaurants in India.

Everstone-backed companies also run sandwich and salad chain Subway and Lavazza in India under licence from their American and Italian parents. "Everstone, which has been operating Burger King in India since 2013, wants to exit its stake in the quick service restaurant chain," one of the people said. "Talks with General Atlantic and a few other PE funds are on, but General Atlantic is the front-runner as of now." Email queries sent to the offices of Everstone Capital and General Atlantic remained unanswered as of press time on 16 March 2023.

Everstone Capital, the private equity arm of Everstone Group, has a large exposure to businesses focused on India and Southeast Asia.