July 12, 2017 / 1:06 PM / 2 months ago

BUZZ-Restaurant Brands Intl: Slips on investor sale

** U.S.-listed shares of Restaurant Brands International dipping 2 pct to one-month low premarket on an unregistered block sale

** Market sources say Credit Suisse reoffering 10 mln shares in range of $61.00-$61.50 vs stock’s Tues close of $62.09; identity of seller(s) unknown at this time

** William Ackman’s Pershing Square Capital Management is the Burger King and Tim Hortons restaurants owner’s top holder with 39.2 mln shares (16.6 pct stake), per Thomson Reuters data

** Next largest shareholders are Brazilian buyout firm 3G Capital (17.5 mln shares), Fidelity (14 mln) and Warren Buffett’s Berkshire Hathaway (8.4 mln)

** Meanwhile, Instinet starts coverage of co with a “buy” and $73 PT

** QSR shares have gained 30 pct YTD. Co’s Toronto-listed shares have risen a quarter this year

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