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Category: Money

Burger King Closes the Deal with 3G Capital for $4 Billion

Written on September 03, 2010 by R. Depp

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The Whopper-maker is ranking high in shares.

Last Thursday, has closed the deal with investment giant at the price of $4 billion. It means has the fast food chain at $24 a share.

Initially, London-based 31 Group is said to be preparing to buy Burger King. But it was a false allegation after the company refuted the plan.

The fast food chain board of directors has agreed with the deal which will push through by the fourth quarter. Burger King’s chairman and chief executive, John Chidsey, will take the new post as co-chairman.

Just a recap, 31% of Burger King’s share used to be owned by TPG Capital LP, Goldman Sachs Capital Partners and Bain Capital Investors. Then in 2006, the food chain was back on the market. Recent news is saying that Burger King is experiencing a weak demand due to high unemployment rate in the US.

The fast food chain has opened 12,150 branches across America and in 76 countries .

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