Carey Olsen advises Restaurant Brands International on its joint venture with CPE to expand Burger King® in China
Carey Olsen's corporate team in Hong Kong have advised NYSE and TSX listed company, Restaurant Brands International ("RBI"), in connection with its joint venture with CPE to grow Burger King® in China ("Burger King China").
CPE, a Chinese alternative asset manager, has agreed to invest US$350 million of primary capital into the joint venture, aiming to expand Burger King's China stores to more than 4,000 locations by 2035. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals.
The Carey Olsen team comprising corporate partner Michael Padarin and associate Calvin Lee advised RBI on the new joint venture arrangement with CPE. Morgan Stanley & Co. LLC is acting as exclusive financial adviser to RBI and Kirkland & Ellis LLP and Haiwen & Partners are serving as legal advisers to RBI. Morrison & Foerster LLP and JunHe LLP are serving as legal advisers to CPE.
Michael Padarin commented: "We are pleased to have advised RBI on this transaction. RBI's joint venture with CPE represents an exciting development, which will enable the company to significantly develop the Burger King® brand in China."
