Restaurant Brands International (QSR) took over Burger King China from its local franchisee with a $158 million purchase. This comes as Burger

Restaurant Brands International (RBI), the parent company of Burger King, Tim Hortons and Popeyes, has announced that one of its subsidiaries has acquired Burger King China from its local franchisee TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII (Cartesian) for $158m.

Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business. The fast food chain operator said it would engage its advisors to work on identifying a new local partner to invest into the business.

Shares of Restaurant Brands International Inc. (QSR) were in the spotlight on Tuesday after the company said its subsidiary bought a 100% stake in Burger King China for about $158 million in an all-cash transaction.

Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR) (TSX: QSP) ("RBI", "Company") announced today that a subsidiary of RBI has acquired from TFI Asia Holdings BV ("TFI") and Pangaea Two Acquisition Holdings XXIII,

Restaurant Brands International Inc. is one of the world’s largest quick-service restaurant companies, with annual system-wide sales of nearly $45 billion and over 32,000 restaurants across more than 120 countries and territories.

Restaurant Brands International (NYSE:QSR) subsidiary has acquired from TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII all their equity interests in Burger King China for approximately $158M in an all-cash transaction.