Restaurant Brands Asia Ltd. (RBA), the operator of Burger King® in India and Burger King® and Popeyes® in Indonesia, on Monday announced that it has entered into definitive agreements for the acquisition of a controlling stake by Inspira Global, promoted by Aayush Madhusudan Agrawal.
Under the proposed transaction, Inspira Global will acquire shares at ₹70 per share, representing an approximately 10% premium to the current market closing price. The acquisition will result in a complete exit of existing promoter QSR Asia Pte. Ltd., which is majority-owned by Everstone Capital, in line with its planned investment lifecycle.
The transaction will be executed, among other steps, through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage arm. Lenexis Foodworks has over a decade of experience in the Quick Service Restaurant (QSR) sector and owns and operates more than 250 Chinese Wok restaurants across 45 cities in India.
As part of the transaction, Inspira Global will acquire QSR Asia’s entire 11.26% stake in RBA for approximately ₹460 crore. Additionally, Inspira Global proposes to infuse around ₹900 crore through a preferential allotment of equity shares and approximately ₹600 crore through a preferential allotment of warrants. These steps will trigger an open offer to RBA’s public shareholders.
The transaction is subject to customary approvals, including shareholder consent, regulatory clearances, and approval from the Competition Commission of India, and will be conducted in accordance with SEBI Takeover Regulations.
