RBI to Repurchase 2.78M Exchangeable Units From 3G Affiliate

Restaurant Brands International (RBI) , the parent company of Burger King, Tim Hortons, Popeyes and Firehouse Subs, said an affiliate of 3G Capital has requested the exchange of 2,784,549 RBI LP Class B exchangeable units.

RBI LP plans to repurchase the units for cash using available funds. Once completed, the units will be cancelled, reducing RBI’s fully diluted share count by the same amount. After the exchange, the 3G Capital affiliate is expected to hold about 21% of RBI’s fully diluted common...

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