Burger King parent Restaurant Brands slips as 3G Capital slices stake

Restaurant Brands International

14/11/2025 13:47

Fixes transposition error for Thursday closing price to "$70.41" from "$70.14" in 6th bullet

** U.S.-listed shares of Restaurant Brands International QSR.N down 2.7% at $68.50 premarket after $1.2 bln secondary offering priced

** Toronto-based restaurant operator late Thurs announced 3G Capital offloaded ~17.6 mln shares

** The private equity firm entered into forward sales agreement for ~9.8 mln shares with sole bookrunner BofA; current investors have indicated interest to buy ~7.8 mln shares

** Post offering, Brazil-based 3G's stake goes from ~26.3% to ~22.3%, per the offering prospectus

** On Oct 30, Restaurant Brands topped qtrly estimates, helped by resilient traffic at its Burger King and Tim Hortons chains

** U.S.-listed QSR shares on Thurs finished up 1.8% at $70.41, up 8% YTD

** 12 of 19 analysts rate shares "strong buy" or "buy", 7 rate "hold"; their median PT is $77, per LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))