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Conyers Dill & Pearman has advised Burger King Worldwide Holdings, Inc. (Burger King) in connection with its business combination with Justice Holdings Limited (Justice), a British Virgin Islands special purpose acquisition company (SPAC) which was previously listed on the London Stock Exchange. The transaction, which closed on June 21, 2012, resulted in Burger King returning to the public markets with a listing on the New York Stock Exchange.
Under the terms of the deal, 3G Capital, a global investment firm and Burger King’s principal stockholder, received approximately $1.4 billion in cash and will continue as the majority shareholder with a stake of approximately 71% in the publicly traded company. The shareholders and founders of Justice own the remaining 29% of the publicly traded company.
The transaction underscores Conyers’ strength and depth of experience in advising on mergers and acquisitions and SPAC related work in the British Virgin Islands. The firm also recently advised Vallares on its $4.2bn merger with Turkish oil company Genel Energy International.
Robert Briant and Anton Goldstein advised Burger King on the transaction alongside its US counsel Kirkland & Ellis LLP.