26th Jul 2021 08:41
(Alliance News) - Bridgepoint Group PLC plans to sell the Burger King business in the UK, Sky News reported on Saturday.
Sky said the private equity group is holding preliminary talks with investment banks to auction off the fast food chain. It added however that a Bridgepoint spokesperson said no advisers had been appointed and that the firm was "simply exploring growth options for the [Burger King UK] business".
An initial public offering of the UK operation also is an option, Sky reported, citing one source. It cited an analyst as saying the Burger King's UK business could be worth over GBP500 million.
Bridgepoint owns around 80% of Burger King's UK estate, including 150 outlets, and is a shareholder in Burger King's French business, Sky noted.
https://news.sky.com/story/newly-listed-bridgepoint-cooks-up-500m-whopper-with-plot-to-sell-burger-king-uk-12362658
Bridgepoint started trading on the London Main Market last week following its own IPO, rising 26% on its debut. London-based Bridgepoint priced its shares at 350 pence, for a market capitalisation on admission of GBP2.88 billion. The stock was up 1.0% at 488.60p on Monday morning.
By Scarlett Butler; [email protected]
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