Restaurant Brands Asia Limited (RBA) – Acquisition Announcement

Introduction

Restaurant Brands Asia Limited (NSE: RBA) filed an XBRL announcement on 24 April 2026 disclosing the acquisition of PT Sari Burger Indonesia, the operator of the “Burger King” brand in Indonesia.

Transaction Overview

• Acquirer: Restaurant Brands Asia Limited (self‑listed entity)
• Target: PT Sari Burger Indonesia (unlisted Indonesian company)
• Industry: Food services & quick‑service restaurants (Burger King franchise, delivery, catering, franchise operations)
• Consideration:
  • Cash payment: ₹ 192,500,000 (≈ ₹ 19.25 crore)
  • Equity component: 35,000 redeemable cumulative non‑convertible preference shares (IDR 1,000,000 each) – total IDR 35 billion, valued at approximately ₹ 19.25 crore at the April 24 2026 exchange rate.
• Nature of consideration: Cash (primary) with a linked issuance of preference shares to the target.
• Acquisition type: Regulation 30 restructuring – New acquisition (agreement to acquire).
• Related‑party status: Yes – promoters/promoter group have an interest in the target.
• Arms‑length: True – transaction conducted at arm’s length.
• Materiality (RPT): False – not deemed material under related‑party transaction thresholds.
• Regulatory approvals: None required.

Financial Highlights (as per disclosed data)

All monetary figures are presented in Indian Rupees (INR) unless otherwise specified.

Governance & Approvals

• Audit Committee meeting: 24 April 2026 – RPT approval obtained.
• Board meeting: 24 April 2026 (ended at 17:35:00) – RPT approval confirmed.
• Completion timeline: Expected within two months of the board approval.

Strategic Rationale (as disclosed)

• The proceeds from the issuance of redeemable preference shares will be used by PT Sari Burger Indonesia to meet its business requirements.
• The acquisition expands Restaurant Brands Asia’s footprint in the Indonesian quick‑service restaurant market, aligning with its core business of operating fast‑food brands.

Related‑Party and Compliance Notes

• The transaction is classified as a related‑party transaction because the promoter group holds an interest in the target entity.
• Despite the related‑party nature, the deal is conducted at arm’s length and does not require governmental or regulatory clearance.
• The acquisition is not material for related‑party reporting purposes under current thresholds.

Conclusion

Restaurant Brands Asia Limited has formally approved the acquisition of PT Sari Burger Indonesia, paying ₹ 192.5 million in cash and issuing ₹ 19.25 crore worth of redeemable preference shares. The deal, approved by both the audit committee and board on 24 April 2026, is expected to close within two months and will broaden RBA’s presence in Indonesia’s fast‑food sector. The transaction is a related‑party acquisition but is conducted at arm’s length and does not trigger additional regulatory requirements.