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UK: Diageo sells Burger King, prepares for drinks investment

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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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