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(Bloomberg) -- Burger King’s biggest franchisee outside the U.S. is planning to list shares in New York as early as next year, according to people familiar with the matter.

Turkey’s TFI TAB Gida Yatirimlari AS -- which owns the Restaurant Brands International Inc. burger chain franchise in China and Turkey through its TAB Gida unit -- is working with Moelis & Co., Goldman Sachs Group Inc. and Credit Suisse Group AG, two of the people said, asking not to be identified because the matter is private.

Turkish companies are increasingly considering share sales after almost three years of political uncertainty deterred international investors, with many opting for overseas listings. The owners of Turkey’s Medical Park Group are weighing a London IPO, people familiar with the matter said this week, while Global Ports Holding Plc listed shares in the U.K. capital in May.

Turkish IPOs in New York are rare. Phone carrier Turkcell Iletisim Hizmetleri AS listed its American depositary receipts on the New York Stock Exchange in 2000 as part of its Istanbul listing.

Representatives for TFI, which also operates Sbarro, Popeyes and Arby’s international franchises, and the banks declined to comment.

Goldman, Credit Suisse

Goldman Sachs, Credit Suisse and the European Bank for Reconstruction & Development last year invested $150 million for almost 10 percent stake in TFI, valuing the company at about $1.5 billion. TFI started expanding the Burger King and other franchises into China in 2012 through a unit called BK China, according to its website. It now operates more than 600 Burger King restaurants in Turkey and almost 700 in China.

TFI Chairman Erhan Kurdoglu and other executives said last year that the company planned to invest $800 million until 2019 to double its restaurants to 3,000 locations, according to a report in the Dunya newspaper at the time.

--With assistance from Asli Kandemir

To contact the reporters on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net, Ruth David in London at rdavid9@bloomberg.net.

To contact the editors responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net, Amy Thomson

©2017 Bloomberg L.P.

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