Arisaig invests $30m for stake in India McDonald’s franchisee
Arisaig Partners has bought a 3.47% stake in Mumbai-listed Westlife Development for INR1.8 billion ($30 million). Westlife controls McDonald’s restaurants in west and south India through its direct subsidiary, Hardcastle Restaurants. It is one of two master franchisees of the fast-food chain in India.
Arisaig will subscribe to 5.4 million new shares in a preferential allotment at INR333.05 apiece, a premium of 3.3% above the last trading price. The deal values the company at INR50 billion. Westlife's...
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