Diageo expects to complete the sale of its Burger King fast food chain to the Texas Pacific consortium this month, despite one of the principal BK franchisees in the U.S., AmeriKing, filing for Chapter 11 bankruptcy protection

Food & Drink Weekly, Dec 16, 2002

> According to industry sources, Diageo expects to complete the sale of its Burger King (BK) fast food chain to the Texas Pacific consortium this month, despite one of the principal BK franchisees in the U.S., AmeriKing, filing for Chapter 11 bankruptcy protection. Sources reportedly suggested that Diageo does not expect to extend further the period of exclusive talks with the Texas Pacific group, which lasts until the end of the year, or invite other potential buyers to bid.