Burger King India's stake on block; Jubilant Foodworks among others in fray

This deal may lay down an open offer, the decision on which is likely to be finalised next month.

A consortium of private-equity firms including Advent and General Atlantic, and Domino’s India Operator Jubilant Foodworks are among the entities in talks to buy Everstone’s entire stake in Restaurant Brands Asia, sources told CNBC-Awaaz.

It is learnt that that Everstone is in discussion to offload their entire stake in Restaurant Brands Asia, which is the operator of many fast food chains such as Burger King.

Jubilant Foodworks discussed the bid submission in its board meeting on Wednesday (May 17), while reporting the results of the March Quarter, the sources added, mentioning that the bankers have shortlisted two players for the stake sale.

Everstone plans to sell the stake in the holding company, one that is based out of Singapore. This deal may lay down an open offer, the decision on which is likely to be finalised next month.

Advent International, however, did not respond to CNBC-Awaaz's query.

People with knowledge of the matter also revealed that ever since Burger King has not been able to delivered on promised numbers, Everstone has had a hard time trying to turn things around. On the other hand, Jubilant Foodworks has shown significant interest because Restaurant Brands Asia will boost its current portfolio.

Currently, the company has 391 Burger King outlets in the country after opening 88 and closing 12 of the same in FY23. It aims to increase the number to 450 outlets by the end of the current financial year.