Pershing Square Declares 19% Stake in Restaurant Brands

Pershing Square Capital Management, the hedge fund headed by activist investor Bill Ackman acquired 18.8% or 38,003,984 shares of Restaurant Brands International Inc (QSR) based on its 13G filing with the Securities and Exchange Commission (SEC).

Restaurant Brands International is the parent company of Tim Hortons and Burger King Worldwide. The company was formed after Burger King acquired Tim Hortons for approximately $11 billion. It started trading at the New York Stock Exchange (NYSE) and Toronto Stock Exchange (TSE) after the completion of merger last month.

Restaurant Brands International’s estimated annual sales are more than $23 billion. The company is operating more than 18,000 restaurants in 100 countries around the world.

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Berkshire Hathaway owns 4.18% stake in Restaurant Brands

It had been reported that Warren Buffett played an important role in the merger between Burger King and Tim Hortons. The legendary investor provided financing for Burger King to close the deal.

Berkshire Hathaway Inc (BRK), the multinational conglomerate controlled by Buffett owns a 4.18% stake in Restaurant Brands International.

ValueWalk previously reported that Buffett’s company would purchase $3 billion of 9% preferred shares of Restaurant Brands International, and it would also receive a warrant to purchase 1.75% of the common shares of the combined company at an exercise price of $0.01 per common share after the completion of the merger.

Restaurant Brands’ leadership

The CEO of Restaurant Brands International is Daniel Schwarts, the former CEO of Burger King. Marc Caira, the former CEO of Tim Horton has been appointed chairman of the board of the company. Joshua Kobza is the chief financial officer of the company.

Elias Diaz Sese was named president of Tim Hortons brand. He previously led Burger King’s Asia Pacific operations.  Jose Cil was appointed president of the Burger King brand. He previously led Burger King’s operations in Africa, Europe and the Middle East.

The stock price of Restaurant Brands International closed at $44.48, down by more than 1% at the NYSE on Monday.