- 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
