Private equity firm Everstone Capital is in talks to sell its roughly 41% stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday.

The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino’s in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said.

Everstone Capital, through its investment vehicle QSR Asia Pte Ltd, held a 40.9% stake in Restaurant Brands as of March 31, according to Refinitiv data.

The stake was worth 21.68 billion rupees ($265.10 million) as of the stock’s closing price on Wednesday.

The stock jumped as much as 11% on Thursday, after the report, to touch a five-month high of 119 rupees.

Restaurant Brands, Everstone, Jubilant, and General Atlantic did not immediately respond to Reuters’ request for comment. Advent declined to comment.

The report came a day after Restaurant Brands Asia posted a wider fourth-quarter loss on higher costs tied to ingredients and expansion. Read full story

Everstone has been looking to sell its stake since October last year, Reuters has reported.

($1=81.7800 Indian rupees)

Reuters