Cinven Limited entered into an agreement acquire unknown majority stake in Restaurant Brands Iberia Sl. from Restaurant Brands International Inc. (NYSE:QSR) for approximately €1 billion on July 28, 2021. The founders of Restaurant Brands Iberia Sl and Burger King Europe GmbH will retain minority stake.

In addition, the management team, under the leadership of founder and Chief Executive Officer Gregorio Jiménez, will remain in charge of its functions. The transaction is subject to customary anti-trust and regulatory approvals. As of October 6, 2021, the European Commission (EC) has given approval for the transaction.

Samir Azzouzi, Christopher Sullivan, Stephen Reese and Taner Hassan of Clifford Chance acted as legal advisor to Cinven. Morgan Stanley (España), S.A. acted as financial advisor to Restaurant Brands Iberia Sl. ING Bank N.V Spain acts as financial advisor to Cinven.

BofA Securities acted as financial advisor to Restaurant Brands. Allen & Overy Spain and J&A Garrigues, S.L.P. acted as legal advisors. Altamar Advisory Partners EAFI, SL acted as financial advisor, Deloitte Abogados SL acted as legal advisor to Cinven Limited.

Ernst & Young Ltd. acted as financial due diligence to Restaurant Brands International Inc. (NYSE:QSR). KPMG N.V. acted as financial due diligence provider, Deloitte acted as Fiscal Due Diligence, BCG and Elias Diaz acted Commercial Due Diligence, ERM acted as ESG Due Diligence, AON acted as Insurance Due Diligence, Albion Group acted as Communication Due Diligence, Arcane acted Analysis Macroeconomics and ING and Santander Bank actec Entities Financial advisor to transaction.