They’ve Got Next: The 40 Under 40 - Iliana Ongun of Milbank

Please describe two of your most substantial, recent wins in practice.

I represented the special committee of the board of Carrols Restaurant Group in the company’s 2024 $1 billion sale to Restaurant Brands. Carrols is the largest Burger King franchisee in the United States. Restaurant Brands—the franchisor—is not only a major contractual counterparty to Carrols, but also a large stockholder.

The deal raised many interesting questions of potential conflict, on which I advised. It was a pleasure to work on this exciting transaction for such an iconic brand.

In 2020, I represented Apollo in a first-of-its-kind strategic investment with the ...