Business
Restaurant Brands International Inc. Announces Receipt of Exchange Notice, Intent to Use Common Shares to Satisfy Exchange and Commencement of Secondary Offering of Common Shares
Restaurant Brands International Inc. ("RBI" or the "Company") (TSX: QSR) (NYSE: QSR) announced today that Restaurant Brands International Limited Partnership ("RBI LP") had received an exchange notice from HL1 17 LP (the "Selling Shareholder"), an affiliate of 3G Capital Partners Ltd. ("3G Capital"), to exchange 17,626,570 Class B exchangeable limited partnership units of RBI LP (the "Exchangeable Units"). RBI LP intends to satisfy this notice with the delivery of an equal number of common share
About this update from Restaurant Brands International Lp
[{"type":"text","content":"MIAMI, Nov. 13, 2025 /CNW/ - Restaurant Brands International Inc. ("RBI" or the "Company") (TSX: QSR) (NYSE: QSR) announced today that Restaurant Brands International Limited Partnership ("RBI LP") had received an exchange notice from HL1 17 LP (the "Selling Shareholder"), an affiliate of 3G Capital Partners Ltd. ("3G Capital"), to exchange 17,626,570 Class B exchangeable limited partnership units of RBI LP (the "Exchangeable Units"). RBI LP intends to satisfy this notice with the delivery of an equal number of common shares of RBI (the "Exchange"). Consequently, the aggregate number of Exchangeable Units and RBI common shares will not change as a result of the transactions.","length":758,"tagName":"p"},{"type":"image","alt":"RBI logo (CNW Group/Restaurant Brands International Inc.)","displaySize":"","headline":null,"caption":"RBI logo (CNW Group/Restaurant Brands International Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":157,"url":"https://media.zenfs.com/en/prnewswire.com/d5ec287d96e61943831c302e8e86fda0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/oNdkLPI9nbJCGBOTnnqPhw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI3NztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d5ec287d96e61943831c302e8e86fda0","width":400,"height":157}},"href":"https://mma.prnewswire.com/media/2822775/Restaurant_Brands_International_Inc__Restaurant_Brands_Internati.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"As previously disclosed, in connection with the merger of Burger King and Tim Hortons to create RBI, all Burger King stockholders had the option to convert their shares into RBI common shares or Exchangeable Units, which receive the same dividends and vote together with RBI common shares. Beginning in December 2015, holders of Exchangeable Units have had the right to exchange their units one-for-one into an equal number of RBI common shares or cash (at RBI LP's election). When RBI LP elects to satisfy the Exchangeable Units by delivering RBI common shares, the Exchangeable Units are deemed repurchased by RBI LP for cancellation and an equal number of RBI common shares are delivered on behalf of RBI LP in consideration for such cancellation.","length":754,"tagName":"p"},{"type":"text","content":"RB...