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.
Above views are of the author and not of the website kindly read disclaimer
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