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VTB Capital has invested $50 million into a joint venture with Burger King
5.07.2012 16:18
VTB Capital has invested $50 million into a joint venture with Burger King

The investment bank VTB capital has invested $50 million into a share in a joint venture with Burger King in Russia, reports RIA News. VTB Capital has become the owner of 47.22 % of shares.

The Shokoladnitsa Coffee House net, owned by Alexander Kolobov, and  Burger King Europe, a European subsidiary of the American corporation, own minor shares.

VTB Capital is planning to invest $ 100 million into Burger King within three years according to the business plan, said earlier Tim Demchenko, the Head of Direct Investments of VTB Capital.

Burger King Russia has got an exclusive franchise in the territory of Russia for twenty years.

Burger King is the main rival of McDonald's and holds the second place in the world in selling burgers.

Author: Irina Fomina

Tags: Russian banks VTB bank    

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