Burger King to Be Public Company Again — 18 Months After Going Private

“We believe it is the right time for Burger King to be publicly traded in the U.S. again,” Chief Financial Officer Daniel Schwartz said in a statement. “With this transaction, we are positioning the Burger King brand for long-term growth both domestically and internationally.”

Published

13 years ago

April 4, 2012

BusinesSuiteOnline

It’s a busy week for Burger King as it announced late Tuesday a deal that will soon have it listed on the public market, just 18 months after it went private in a buyout. The news comes a day after it unveiled an overhauled menu and a celeb-laden advertising campaign to promote it.

The fast-food chain, taken private in 2010 by New York investment firm 3G Capital, is going to be a public company after merging with a special-purpose acquisition company owned by billionaire William Ackman (pictured above).

3G Capital, backed by Brazilian billionaires, will receive $1.4 billion in cash to transfer Burger King to Ackman’s Justice Holdings Ltd., according to a statement from the companies today. 3G Capital agreed to acquire Burger King in September 2010 for $3.3 billion, the biggest restaurant acquisition in at least a decade.

3G Capital will remain the largest shareholder in Burger King, with a 71% stake; Justice and its founders will own about 29% of the combined company, according to the statement.

After the deal closes, Justice, which trades on the London Stock Exchange, will immediately stop trading, and Burger King Worldwide Inc. will start trading on the New York Stock Exchange.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

9 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

9 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.