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• Burger chain sold its businesses to its local licensees Alexander Govor
McDonald’s Corp (NYSE: MCD) will have an option to repurchase its restaurants in Russia within 15 years, Reuters reported on Thursday, citing Moscow’s anti-monopoly service.
The report said regulators approved a deal in which the burger chain sold the restaurants to one of its local licensees - Alexander Govor, who will rebrand the business in Russia.
Last month, McDonald’s struck a deal to sell its Russian business, making it the most significant exit by a global brand from the country after the unprovoked invasion of Ukraine.
The deal ended more than three decades of the “Golden Arches” in the country.
Picture Credit: The Guardian
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