UK: Diageo sells Burger King, prepares for drinks investment
Diageo, the world's biggest wine and spirit producer has announced it has agreed the sale of its fast food concern Burger King to a consortium composed of Texas Pacific, Bain Capital and Goldman Sachs. Diageo will receive US$2,260m in cash for Burger King Corporation on a debt free basis. Burger King Corporation will retain a minimum level of working capital, which will include US$15m of cash.
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