Diageo PLC announced today that the investment group which has agreed to purchase its Burger King Corporation subsidiary has asked for a revaluation of the agreed upon purchase price.

The original purchase agreement in July between Diageo and U.S. investment firms Texas Pacific Group (TPG), Bain Capital and Goldman Sachs Capital Partners, contained conditions that certain performance targets be met by the world’s number two burger chain. The investment group has informed Diageo of its concern over these targets not being met, given the market conditions of Burger King and their potential effects, particularly related to financing the sale.

Diageo said in its release that discussions about the revision to the terms of the July agreement will be held over the next several weeks but made clear that no changes were definite at this point.

Dow Jones reported from London Thursday that Diageo’s house broker, Cazenove, now sees a possible sale price of about $1.89 billion. Other analysts saw a revised price of around $2.1 billion. The original sale price is estimated at $2.26 billion USD.

News, Burger King