3G completes $3.26B Burger King takeover

AP News
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Posted: Oct 19, 2010 4:46 PM
3G completes $3.26B Burger King takeover

Investment firm 3G Capital has finished its $3.26 billion buyout of Burger King Holdings Inc., the two companies said Tuesday.

3G, based in New York, announced last month that it would acquire the burger chain at $24 per share. The companies value the transaction at $4 billion including the debt the buyer would assume.

Burger King, based in Miami, said the deal, announced last month, will allow the 12,000-restaurant chain to expand faster overseas.

Bernardo Hees will become CEO of the company, while Alexandre Behring, 3G's managing director, will be the co-chairman alongside Burger King chairman and CEO John Chidsey.