Restaurant Brands Plans Disposing Stake In Russian Burger King: WSJ

by Shivani Kumaresan, Benzinga Staff Writer

March 18, 2022 7:42 AM | 1 min read |

Restaurant Brands International Inc 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.
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