UPDATE: r King Worldwide to List on NYSE Today Under Ticker Symbol "BKW"
Burger King Worldwide, Inc. today announced the consummation of its business combination with a subsidiary of Justice Holdings Limited (“Justice”). Burger King Worldwide will commence trading on the New York Stock Exchange today under the ticker symbol “BKW.”
As a result of the closing of the transaction, 3G Capital, a global investment firm and Burger King Worldwide's principal stockholder, received approximately $1.4 billion in cash and will continue as the majority shareholder with an approximately 71% stake in the combined publicly traded company. The former Justice shareholders and Justice founders now own approximately 29% of the combined publicly traded company.
As previously announced, and as part of the business combination transaction, Martin E. Franklin and Alan Parker, former Justice directors, have joined the Board of Directors at Burger King Worldwide, along with all of the existing Burger King Worldwide Holdings board members. Martin E. Franklin is the Founder and Executive Chairman of Jarden, a NYSE-listed, diversified consumer products company, for which he previously served as its Chief Executive Officer. Alan Parker was previously the Chief Executive of Whitbread PLC, the UK's largest hotel and restaurant company.
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