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Diageo gets offers for Burger King

12 April 2012

DIAGEO said it has received 'some approaches' for its Burger King fast food chain but declined to confirm if Bain Capital Inc, Blackstone Group and Texas Pacific Group were on the list.

'There have been some approaches made but we can't give the full details since it could just lead to more speculation,' a spokeswoman for Diageo said. She said the management could not act on these offers as it has yet to finalise how the planned separation of the unit from the group will be carried out.

'We're still evaluating the best way to separate the business. It could be via IPO, MBO or an outright sale. We haven't announced what options we want to go for,' she added.

Bain, Texas Pacific and Blackstone are reportedly interested in acquiring Burger King which could fetch more than $2bn. Bain's portfolio includes the Domino's Pizza chain. Blackstone, meanwhile, is a US private investment firm which owns the Savoy Group of Hotels in London and has a stake in Host Marriott.

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