Everstone to sell Burger King India franchise
Singapore-based private equity firm Everstone plans to sell its Burger King India franchise.
The firm is reportedly in advanced discussions with Rahul Bhatia-controlled InterGlobe group to sell the franchise a deal worth US$204 million.
The fast-food chain operates 140 outlets, spread across cities in north, west and south India. Last year, its sales reached $54 million.
Everstone has managed Burger King India since 2013, along with Coffee Bean & Tea Leaf, Copper Chimney, Bombay Blue and Noodle Bar in India.
The discussions between the two parties come at a time when Bhatia is in dispute with Rakesh Gangwal over their flagship airline IndiGo.