Reuters: Private Equity: UPDATE 1-Burger King shares returning to public trade

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Burger King shares returning to public trade Jun 20th 2012, 13:05 June 20 | Wed Jun 20, 2012 9:05am EDT June 20 (Reuters) - Burger King will become a public company again on Wednesday, less than two years after going private in a $3.26 billion sale to 3G Capital Management LLC, a Brazilian investment fund. Shares in the world's second-biggest hamburger chain will trade on the New York Stock Exchange under the ticker "BKW" after closing of a $1.4 billion deal merging Burger King into Justice Holdings, a publicly held shell company cofounded by hedge fund veteran Bill Ackman. In the deal, Justice shareholders and founders wound up with about 29 percent of the shares, with 3G retaining 71 percent ownership and receiving $1.4 billion in cash, the company said. The deal and IPO from Burger King Worldwide Inc, known for its "Whopper" hamburgers, comes as it and other chains fight to keep up with fast-food leader McDonald's Corp. When the "reverse-merger" transaction was announced in April, Justice said it expected the fast-food chain's core profits in 2012 to almost double from 2010.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions