Tab Food Investments (TFI), the biggest worldwide franchisee of Burger King, has...
HONG KONG/ISTANBUL - Tab Food Investments , the biggest worldwide franchisee of Burger King, has asked Citigroup to help to sell a minority stake in the business in China and Turkey, a deal which could fetch at least $200 million, two sources familiar with the matter said.
Istanbul-based TFI, founded by the Kurdoglu family, operates nearly 1,700 Burger King outlets in Turkey and China. TFI began investing in China in 2012 and now has a network of more than 1,000 Burger King restaurants in more than 150 Chinese cities, according to its website. First-round indicative bids will be due by the end of next week, one source, who declined to be named as the information was not public, said.
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