Arab Today, arab today canada approves burger king tim hortons merger
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Canada approves Burger King, Tim Hortons merger

Arab Today, arab today

Arab Today, arab today Canada approves Burger King, Tim Hortons merger

Burger King
Ottawa - AFP

Canada's industry minister approved Thursday fast-food giant Burger King's takeover of coffee and donut chain Tim Hortons, with conditions such as maintaining staffing levels at Tim stores across this country.
In a statement Minister James Moore said following a review of the proposed acquisition under Canada's foreign investment rules that Burger King has agreed to the conditions.
"The result of this transaction is this new global company, with sales of more than Can$23 billion (US$20 billion) annually, which will now be based in Canada," he said.
The Can$12.5 billion deal was announced in August.
According to the government's terms, the merged company will also seek to expand globally "at a significantly greater pace than currently planned."
Its new headquarters will be in Oakville, Ontario, and the new company will seek a listing on the Toronto Stock Exchange. Also half of its board must be Canadian.
Finally, in North America, Tim Hortons and Burger King will not be co-branded, and franchisee and royalty structures will be maintained at current levels for five years.
Founded in 1954 with a restaurant in Miami, Burger King became the world's second biggest hamburger chain, with 13,000 shops in nearly 100 countries. According to the company, it serves an average of 11 million customers a day.
Tim Hortons, named after its founder, has become iconic on Canadian roadways since its first coffee and donut shop opened in 1964 in Hamilton, Ontario.
It now boasts more than 4,500 stores.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canada approves burger king tim hortons merger Arab Today, arab today canada approves burger king tim hortons merger

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canada approves burger king tim hortons merger Arab Today, arab today canada approves burger king tim hortons merger

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday