BK investors sell 19.9M shares

WASHINGTON Funds controlled by Bain Capital, TPG Capital and Goldman Sachs, which together took Burger King Holdings Inc. public last year, have sold a total of 19.9 million of their common shares for about $486 million, reducing their combined equity in BK to about 43 percent, according to filings with securities regulators.

In the Nov. 21 filings, Boston-based Bain said it sold 4.96 million shares on Nov. 19 for $24.13 per share, and another 864,000 shares Nov. 21, also for $24.13 each. Bain now owns 18.65 million shares, or about 14 percent of Burger KingÕs total shares outstanding.

In a separate Nov. 21 filing, Fort Worth, Texas-based TPG Capital reported that it sold 6.48 million BK shares on Nov. 19 and an additional 972,000 on Nov. 21, for $24.13 per share. TPG said it now owns 20.98 million Burger King shares, or about 15.5 percent of the companyÕs total shares outstanding.

Goldman Sachs sold about 6.6 million shares for $25 each, leaving it with 18.7 million shares.

Earlier this month Miami-based Burger King had said its three majority investors would together sell 18 million Burger King shares, or up to 20.7 million shares with over-allotment options for the underwriters, in a secondary offering priced at $25 per share.

Burger King, which is based in Miami and operates or franchises the 11,290-unit namesake chain, did not receive any proceeds from the offering.