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Article: Burger King parent to position company for strong initial offering.(Diageo)(Brief Article)(Statistical Data Included)
- Article from:
- Feedstuffs
- Article date:
- August 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Burger King Corp. has reported that its parent company, Diageo, has pledged to provide Burger King with a balance sheet that will assure strong debt ratings "in the event" of an initial offering of Burger King.
Furthermore, Burger King said Diageo has said it would transfer to Burger King the foreign subsidiaries through which Burger King restaurants are operated outside North America, which are Burger King Ltd. in the U.K., Burger King. BV in the Netherlands and Burger King Australia Pty.
Diageo announced last year that it would offer out 20% of Burger King in 2000 and the remaining 80% next year to focus on the company's core activities in brewing and ...