Diageo said that discussions are now taking place and would continue over the next few weeks. “As with any such discussion this may result in no changes to the existing terms, changes to the existing terms, or separation of Burger King Corporation under the transaction to the buying group not proceeding,” Diageo said.
UK: Diageo says BK sale terms may be revised
Following days of speculation, Diageo has confirmed that the group buying its Burger King fast food chain, comprising Texas Pacific Group (TPG), Bain Capital and Goldman Sachs Capital Partners, want to revise the terms of the purchase agreement. Diageo said the terms might be revised but said there was a possibility of the deal now not going through at all.