RBI acquires Burger King China stake for $158M; to find new local partner

Restaurant Brands International Limited Partnership

Acquired all equity interests in Burger King China from TFI and Cartesian for $158M all-cash.
RBI now owns nearly 100% of the business; will seek a new local operating partner as controlling shareholder.
TFI helped grow Burger King China from ~60 restaurants (2012) to ~1,500 today.
Transaction aligns with RBI's strategy of partnering with experienced local operators in franchised model.
RBI continues Tim Hortons China partnership with Cartesian; TFI remains partner in Turkey.

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