Restaurant Brands International (RBI), the parent company of Burger King, Tim Hortons and Popeyes, has announced that one of its subsidiaries has acquired Burger King China from its local franchisee TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII (Cartesian) for $158m.

Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business.

Shares of Restaurant Brands International Inc. (QSR) were in the spotlight on Tuesday after the company said its subsidiary bought a 100% stake in Burger King China for about $158 million in an all-cash transaction.

Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR) (TSX: QSP) ("RBI", "Company") announced today that a subsidiary of RBI has acquired from TFI Asia Holdings BV ("TFI") and Pangaea Two Acquisition Holdings XXIII,

Restaurant Brands International (NYSE:QSR) subsidiary has acquired from TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII all their equity interests in Burger King China for approximately $158M in an all-cash transaction.