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Benzinga
Benzinga
Business
Shivani Kumaresan

Restaurant Brands Plans Disposing Stake In Russian Burger King: WSJ

Russia Burger King Restaurant Brands QSR Ukraine NYSE Restaurant Brands International Inc Wall Street Journal
  • Restaurant Brands International Inc (NYSE:QSR) has started the process of disposing of its ownership stake in a Burger King joint venture in Russia, the Wall Street Journal reported.
  • Restaurant Brands operates in Russia through joint-venture partners, none of whom own a majority stake. It holds a 15% stake in the joint-venture partnership, which includes Alexander Kolobov, Investment Capital Ukraine, and VTB Capital.
  • The company failed in its individual attempt to halt operations.
  • Burger King has more than 800 restaurants in Russia, run by franchisees.
  • Global companies are facing the heat of the customers to pull out their Russian operations after the country’s invasion of Ukraine.
  • Price Action: QSR shares closed higher by 0.85% at $57.88 on Thursday.
  • Photo via Wikimedia Commons
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