Competition Commission of India on Wednesday approved the acquisition of a partial ownership in Restaurant Brands Asia Ltd, the operator of Burger King outlets in India, by a consortium led by Lenexis Foodworks Pvt Ltd.

The proposed acquisition involves the buying of a certain stake in Restaurant Brands Asia through various steps, including equity subscriptions, warrant subscriptions, equity purchases and an open offer, the competition watchdog said.

Apart from Lenexis Foodworks Pvt Ltd (LFPL), the consortium includes Inspira Foodworks Pvt Ltd (IFPL), Aayush Agrawal Trust (AAT), Inspira Agro Trading LLC (IATL) and Aayush Madhusudan Agrawal (AMA).

"CCI approves the acquisition of a certain stake of Restaurant Brands Asia Limited by Lenexis Foodworks Pvt Ltd, Aayush Agrawal Trust, Inspira Foodworks Private Limited, Aayush Madhusudan Agrawal and Inspira Agro Trading LLC," the regulator said in a post on X.

Restaurant Brands Asia is the national master franchisee of the Burger King brand in India and holds exclusive rights to develop, operate, and franchise 'Burger King' restaurants across the country.

LFPL is engaged in the quick service restaurant business and operates outlets pan-India under the brands Chinese WOK, The Momo Co and Big Bowl Co.

IFPL is proposed to serve as a strategic investment and operating vehicle, focusing on the expansion of the existing QSR business of LFPL.

AAT is a discretionary private trust. It is the primary investment vehicle for Aayush Madhusudan Agrawal and his family, while IATL is engaged in trading cardamom in the United Arab Emirates.

Deals beyond a certain threshold require approval from the regulator, which monitors unfair business practices and promotes fair competition in the marketplace.

(Except for the headline, Fortune India has not edited the content of this PTI report.)