Diageo’s Burger King Sold for $1.5 Billion
Reuters
British drinks giant Diageo clinched the sale of its Burger King chain to a private equity consortium led by Texas Pacific in a cut-price, $1.5-billion deal.
The world’s largest spirits group completed the sale after talks with the buyers that brought the price down by about a third from the $2.26 billion initially agreed on in July.
Diageo shares rose $1.95 to $44 on the New York Stock Exchange.
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