Restaurant Brands International Inc. said its limited partnership, RBI LP, received an irrevocable notice from 3G Restaurant Brands Holdings LP, an affiliate of 3G Capital Partners Ltd., to exchange 2,784,549 Class B exchangeable limited partnership units. RBI LP plans to repurchase the units for cash using cash on hand when the exchange is scheduled to settle on Aug. 31, 2026, with the price tied to the 20-day volume weighted average price (average price weighted by trading volume) of RBI's common shares traded on the NYSE in U.S. dollars. The cancelled units would lower RBI's fully diluted common share count by the same amount, and RBH would own about 21% of the company's fully diluted common shares on an as-adjusted basis. RBI, which owns Tim Hortons, Burger King, Popeyes and Firehouse Subs, also said the release contains forward-looking statements about completing the repurchase and the expected funding source.