Deal sealed: A file picture shows a Burger King outlet in Mutiara Damansara. Ekuinas has sold its investment in the burger- joint franchise to Newscape Capital Sdn Bhd for RM74.6mil.
PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has sold its investment in Burger King Malaysia and Singapore to Newscape Capital Sdn Bhd for RM74.6mil.
The state-owned private equity firm first bought 74% from the previous franchisee for RM68.2mil in 2011. The divestment generated gross proceeds of RM74.6mil with a negative internal rate of return (IRR) of 28.1% and investment recovery of 0.45 times of capital invested across two funds.
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