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Burger King operator sells for $108m

The Overseas Investment Office has approved the acquisition of Anchorage New Zealand – owner and operator of Burger King – by Tango New Zealand for more than $100 million.

The Overseas Investment Office has approved the acquisition of Anchorage New Zealand – owner and operator of Burger King – by Tango New Zealand for more than $100 million. 

Tango New Zealand Limited – owned by the Blackstone Group, one of the largest independent managers of private capital in the world – bought all of Anchorage's shares for a total of $107,948,817.

In releasing its decision, the OIO said Blackstone believed its investment experience in the consumer and beverage industry meant it was well placed to help grow the Burger King business.

Anchorage is 92 percent owned by the Anchorage Capital Partnership Fund L.P, Australia.