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Stock Market News

McDonald’s to sell Russia business to current licensee

05/19/2022

Less than a minute

2022.05.19 15:32

McDonald's to sell Russia business to current licensee
A sign with the logo is on display outside a McDonald’s restaurant in Omsk, Russia May 18, 2022. Picture taken with a drone. REUTERS/Alexey Malgavko

(Reuters) – McDonald’s Corp (NYSE:MCD) said on Thursday it has agreed to sell its Russian business to current licensee Alexander Govor, days after announcing it would exit the country.

Govor will acquire McDonald’s entire restaurant portfolio and operate them under a new brand, McDonald’s said.

Source

05/19/2022

Less than a minute