Restaurant Brands International Limited Partnership (RSTRF): restructuring charge — RBI and CPE announce Burger King China JV; CPE invests $350M, RBI retains 17%, takes $150M impairment

Restaurant Brands International Limited Partnership

CPE to invest $350M new primary capital into Burger King China JV, owning ~83%; RBI retains ~17% and a board seat.
RBI will record a non-cash impairment charge of approximately $150M on its Burger King China holdings.
Joint venture aims to expand Burger King China from ~1,250 restaurants to over 4,000 by 2035; target to double in 5 years.
Transaction expected to close in Q1 2026, subject to regulatory approvals; RBI will start recognizing royalties post-close.
RBI will not receive any cash proceeds; capital remains in JV to support growth.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Restaurant Brands International Limited Partnership announced a impairment with charges of approximately $150 million affecting Burger King China.

Type: impairment
Charge: approximately $150 million
Affected area: Burger King China

Exact text from the filing

the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.

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Source: SEC EDGAR

accession 0001618755-25-000048

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