Inspira Global to buy stake in India's Burger King operator RBA for about $50.5 million

Restaurant Brands Asia said on Tuesday that Inspira Global will acquire a controlling stake in the Burger King India and Indonesia operator for around 4.60 billion rupees ($50.54 million).

Inspira will buy the entire shareholding of 11.26% in Restaurant Brands Asia (RBA) from QSR Asia, the investment vehicle owned by Everstone.

In addition, Inspira plans to invest about 900 crore rupees through a preferential allotment of shares and another 600 crore rupees through warrants, RBA said in a statement.

These actions will trigger an open offer to RBA’s public shareholders, it added.

RBA has a market capitalisation of $408.4 million in Mumbai, according to data compiled by LSEG.

Reuters reported on Monday that RBA was set to bring in a new strategic investor, with the family office of the founders of India’s Ajanta Pharma expected to participate, potentially injecting up to 8 billion Indian rupees ($88 million) in the company.