Tims China Announces Significant Financing from Founding Shareholders

In addition, through one of its foreign entities, RBI has acquired the Popeyes China business from Tims China on a cash-free debt-free basis for an enterprise value of $15 million. Simultaneously, Tims China has extinguished the deferred consideration due to former shareholders of Popeyes China via issuance of a $15 million convertible note, which converts directly into ordinary shares with financial terms similar to those outlined above. ABOUT TH INTERNATIONAL LIMITED Forward-Looking Statements Investor Re ...