MIAMI-DADE-COUNTY (dpa-AFX) - Burger King Worldwide (BKW) said Friday that it had sold 41 company-owned BURGER KING restaurants in Singapore to Rancak Selera Sdn Bhd, part of Ekuiti Nasional Berhad's portfolio of companies and the current BURGER KING franchisee in Malaysia.
As per the transaction, BKW and Rancak Selera have entered into Master Franchise and Development Agreements to further develop the BURGER KING brand in both Malaysia and Singapore over the next 20 years.
Under the transaction, Rancak Selera has acquired a 100 percent stake in Burger King Singapore Pte Ltd.
Additionally, Burger King noted that Rancak Selera will commit substantial capital to help expand the BURGER KING brand in Singapore and Malaysia.
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© 2012 AFX News
