Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business. The fast food chain operator said it would engage its advisors to work on identifying a new local partner to invest into the business.

Restaurant Brands International is acquiring Burger King China from TFI Asia Holdings but plans to find a new local operator.

Restaurant Brands International (QSR) took over Burger King China from its local franchisee with a $158 million purchase. This comes as Burger

Shares of Restaurant Brands International Inc. (QSR) were in the spotlight on Tuesday after the company said its subsidiary bought a 100% stake in Burger King China for about $158 million in an all-cash transaction.

Restaurant Brands International Inc. says it has bought its partners' stakes in Burger King China for US$158 million and is seeking a new local partner.

Restaurant Brands International (NYSE:QSR) subsidiary has acquired from TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII all their equity interests in Burger King China for approximately $158M in an all-cash transaction.