Advent International not moving forward with Everstone deal: report
Everstone owns 40.9% of Restaurant Brands Asia.
Private equity firm Advent International is backing out of the deal to acquire the 40.9% stake of Everstone Capital in Restaurant Brands Asia, which runs the fast-food brand Burger King in India and Indonesia, a report by Times of India said.
The report said that some of the deals put forth by Advent were not agreed to by other parties involved in the deal proceedings.
A month ago, a report by the Economic Times India said that Advent and General Atlantic were ready to snap up the shares.
According to its latest annual report, RBA has 391 Burger King restaurants in India.