Oakville / CA. (rbi) Restaurant Brands International Inc. (RBI) is pleased to announce the successful completion of the transaction with Tim Hortons Inc. (THI) and Burger King Worldwide Inc. (BKW). The transaction creates Restaurant Brands International, a new global quick service restaurant leader operating two iconic, independent brands.
Daniel Schwartz, formerly Chief Executive Officer BKW, has been appointed to the role of Chief Executive Officer, Restaurant Brands International. Marc Caira, formerly Chief Executive Officer THI, will serve as Vice-Chairman of the Board of Directors of Restaurant Brands International. Restaurant Brands International plans to announce the remaining leadership structure for the Company in this week.
Effective as of the close of trading day December 12, 2014, Tim Hortons common shares and Burger King Worldwide common stock will cease trading on the Toronto Stock Exchange and New York Stock Exchange. Restaurant Brands International common shares will begin trading on the Toronto Stock Exchange and New York Stock Exchange under the trading symbol QSR on Monday, December 15, 2014. Exchangeable units of Restaurant Brands International Limited Partnership, a subsidiary of Restaurant Brands International, will also commence trading on the Toronto Stock Exchange under the trading symbol QSP on Monday, December 15, 2014.
Restaurant Brands International owns a majority interest – by vote and value – of Restaurant Brands International Limited Partnership by virtue of its ownership of the common units and preferred units of the partnership. Indirect wholly-owned subsidiaries of Restaurant Brands International Limited Partnership acquired all of the common shares of Tim Hortons and common stock of Burger King Worldwide pursuant to the transaction.
About Restaurant Brands International
Restaurant Brands International is one of the world´s largest quick service restaurant companies with approximately 23 billion USD in system sales and over 18’000 restaurants in 100 countries. Restaurant Brands International owns two of the world´s most prominent and iconic quick service restaurant brands – Tim Hortons and Burger King. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
