The Burger King buys the Tim Hortons Canadian fast food restaurant chain

It has become official that the Burger King buys Tim Hortons a fast food restaurant chain in Canada. With this step, a completely new company will be created, which can earn an annual turnover of 23 billion USD. The shares of Tim Hortons rose by 10 percent after the news.

51 percent of the newly created company will be owned by 3G Capital. In connection with the purchase price, the JP Morgan and Wells Fargo guarantees 12.5 billion USD, but Warren Buffett's company, the Berkshire Hathaway will also get into financing. (MTI)