Burger King Holdings Inc. has added more investment banks to underwrite its initial public offering.

The Miami-based burger chain, the second largest in the world after McDonald's Corp., also plans a management "realignment" in its overseas operations, it said in a regulatory filing Tuesday.

Burger King added Wachovia Corp., Bear Stearns Cos. and Lehman Brothers Holdings Inc. to its list of IPO underwriters. Already involved in managing the IPO are JP Morgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley.

In an updated preliminary prospectus filed with the Securities and Exchange Commission Tuesday, the company said that its board has authorized the realignment of the regional management of its European and Asian business.

The realignment, which includes the granting of franchises in new European and Asian entities, is expected to have a positive impact on Burger King's future effective tax rate; the company expects to incur approximately $125 to $150 million in cash tax payments and related costs in the first quarter of fiscal 2007, as a result.

The chain hopes to raise up to $400 million in the IPO.
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