UK: Diageo forced to renegotiate Burger King sell off

By just-drinks.com editorial team | 19 November 2002

Texas Pacific Group (TPG), the buying consortium that was set to acquire the Burger King business from Diageo, has told the drinks giant that it will not be able to complete the acquisition of the fast food chain on the terms previously agreed. However, in a statement, Diageo said: "TPG and its partners expressed a desire to continue in discussions towards a transaction materially different as to terms and structure."

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Texas Pacific Group (TPG), the buying consortium that was set to acquire the Burger King business from Diageo, has told the drinks giant that it will not be able to complete the acquisition of the fast food chain on the terms previously agreed. However, in a statement, Diageo said: "TPG and its partners expressed a desire to continue in discussions towards a transaction materially different as to terms and structure."

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