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VTB Capital Pays $47 Mln for Burger King Stake

Burger King

12:01 05/07/2012

MOSCOW, July 5 (RIA Novosti)

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VTB Capital, the investment arm of Russia's second largest lender VTB, has paid 1.5 billion rubles ($46.57 million) for a 47.22 percent stake in a joint venture with U.S. Burger King Corporation, the second world's largest fast-food chain, VTB said on Thursday.

VTB Capital said in June that Burger King planned to open several hundred restaurants in Russia in the next few years.

Burger King, the main competitor of the world's largest fast-food chain McDonald's, entered the Russian market in early 2010. The company now has 57 restaurants in Russia.

Burger King's international chain includes nearly 12,000 restaurants in 75 countries, earning an average annual revenue of $1.5 billion.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20120705/174413096.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20120705/174413096.html"><img src="http://en.rian.ru/images/15764/05/157640591.jpg" width="120" height="83" border="0" alt="Burger King " style="float:right;padding:0px 15px 5px 0px;" /></a><a target="_blank" href="http://en.rian.ru/business/20120705/174413096.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">VTB Capital Pays $47 Mln for Burger King Stake</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 153px 0px 0;"><span style="color:#5590bf;">12:01</span> <span style="color:#5590bf; padding-right:7px;">05/07/2012</span> <span style="font-size:12px;">VTB Capital, the investment arm of Russia's second largest lender VTB, has paid 1.5 billion rubles ($46.57 million) for a 47.22 percent stake in a joint venture with U.S. Burger King Corporation, the second world's largest fast-food chain, VTB said on Thursday.<a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20120705/174413096.html" title="VTB Capital Pays $47 Mln for Burger King Stake">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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VTB Capital Pays $47 Mln for Burger King Stake

12:01 05/07/2012 VTB Capital, the investment arm of Russia's second largest lender VTB, has paid 1.5 billion rubles ($46.57 million) for a 47.22 percent stake in a joint venture with U.S. Burger King Corporation, the second world's largest fast-food chain, VTB said on Thursday.>>

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