Cyril Amarchand Mangaldas (CAM), Wadia Ghandy and Touchstone Partners advised on Inspira Global’s acquisition of controlling stake in Burger King India operator Restaurant Brands Asia.

The transaction involved the sale of an 11.26% stake for approximately ₹460 crore by QSR Asia Pte. Ltd. And F&B Asia Ventures (Singapore) Pte. Ltd., along with a proposed infusion of nearly ₹1,500 crore through a preferential issue of equity shares and warrants. The transaction also triggered a mandatory open offer for an aggregate consideration of up to ₹3,416 crore.

CAM advised Restaurant Brands Asia Limited and QSR Asia Pte. Ltd. (majority owned by Everstone Capital) on the acquisition of a controlling stake in Restaurant Brands Asia Limited, the operator of Burger King in India, by Lenexis FoodWorks Pvt. Ltd., the food and beverage arm of Inspira Global.

The CAM transaction team advising QSR Asia Pte. Ltd. And the Company was led by Shubham Rastogi, with assistance from Swini Khara, Varun Kannan and Coral Shah. Strategic inputs were provided by Anchal Dhir, and the competition law team was led by Avaantika Kakkar, with assistance from Pushkar Singh.

Wadia Ghandy & Co. recently advised Inspira Global, its promoter, Mr. Aayush Madhusudan Agrawal and Inspira Global’s food and beverage arm, Lenexis Foodworks Private Limited, in their acquisition of a controlling stake in Restaurant Brands Asia Limited (“Company”), a listed company operating the brands Burger King® in India and Burger King® and Popeyes® in Indonesia.

The proposed transaction is subject to the fulfilment of customary conditions precedent, including the receipt of applicable shareholders and regulatory approvals, including from Competition Commission of India. Wadia Ghandy & Co. also advised merchant banker to the open offer, Motilal Oswal Investment Advisors Limited, in the open offer process to be completed in accordance with the SEBI Takeover Regulations.

The transaction was led by Partner, Anubhav Agarwal, with assistance from Partner Ashu Garg and Associates Aditya Gugale and Aksh Soni. The other team members comprised of Partner, Nidhi Jha and Associates Ranbir Singh, Sanjana Sahay and Aayushi Dhurvey.

Joint Managing Partner Ashish Ahuja provided strategic inputs, and the Competition team was led by Partner Aarish Dhunjibhoy with assistance from Associate Antas Kestwal.

Touchstone Partners advised Restaurant Brands International, the owner of the Burger King and Popeyes brands, in connection with the proposed acquisition by Inspira Global of a controlling interest in Restaurant Brands Asia Limited, which also operates Burger King and Popeyes in Indonesia.

The Touchstone Partners team included Yashasvi Mohanram, Vaishnavi Sankar, Niharika Rozwal and Niharika Mukherjee.