South Africa's Grand Parade to sell Burger King franchise

JOHANNESBURG (Reuters) – Grand Parade Investments (GPI) Ltd (GPLJ.J), which holds the Burger King franchise in South Africa, said on Wednesday it will sell its 95.36% stake in the business to ECP Africa Fund, in an attempt to close a valuation discount to its net asset value.

The sale also includes all shares it holds in Grand Foods Meat Plant, it said in a statement.

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