Burger King announces NYSE relist
Burger King, the world’s number two hamburger chain that is in the midst of overhauling its menu and outlets, said it expects to be relisted on the New York Stock Exchange within the next three months.
The New York-based investment firm 3G Capital said it is selling a 29% stake in Burger King for $1.4bn (€1bn) in cash to Justice Holdings Ltd, a London-based shell specifically set up to invest in another company. 3G Capital will keep the remaining 71%.
Justice Holding’s shares will suspend trading on the London Stock Exchange once the deal is complete.
The company will then emerge as Burger King Worldwide and its shares will be traded on the NYSE.
Burger King previously traded under BKC between 2006 and 2010 but its new ticker has not yet been determined.
The announcement comes just a day after Burger King launched a star-studded TV ad campaign to tout the biggest revamping since the chain opened its doors in 1954.
