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Grand Parade is selling Burger King

19 February 2020 2:17 PM
Tags:
Grand Parade Investments
Burger King
Mohsin Tajbhai
ECP Africa Fund
Burger King, which has 92 outlets across South Africa, made a profit of only R11.7 million in 2019.

The company announced on Wednesday its intention to sell its 95.37% stake in Burger King to ECP Africa Fund for R697 million.

FILE: The first Burger King in South Africa opened its doors in Cape Town on 9 May 2013. Picture: Rafiq Wagiet/EWN

The board considered the sale of GPI’s stake in Burger King South Africa in the context of the group’s strategy of unlocking value for all shareholders and has decided that the best way forward is to initiate a controlled sale of assets.

Mohsin Tajbhai, CEO - Grand Parade Investments

ECP Africa is a private equity fund manager that holds investments such as Ecobank and MTN Cote d’Ivoire.

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19 February 2020 2:17 PM
Tags:
Grand Parade Investments
Burger King
Mohsin Tajbhai
ECP Africa Fund

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