Quote on Burger King India has entered into a non-binding understanding to acquire Burger King Indonesia by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Burger King India has entered into a non-binding understanding to acquire Burger King Indonesia by Mr. Amarjeet Maurya, - AVP - Mid Caps, Angel Broking Ltd
Burger King India (BKIL) has entered into a non-binding understanding to acquire
85% stake in PT Sari Burger Indonesia (“BK Indonesia”) from F&B Asia
ventures (65.8%) and Mitra Adiperkasa (19.2%). The transaction values BK
Indonesia at USD183mn and it will fund through equity. On EV/Sales (FY20 - Sales) basis valuation work out around 1.8x which is discount compare to burger king India (8.0x). Considering, strong QSR brand in Indonesia and 60% population age under 30 (millennials), we believe this is positive development for BKIL. Hence we are positive on stock with buy rating.
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