McDonald's to sell Russian business to existing Siberian licensee [MSNBC.com]
McDonald's Corporation (MCD)
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Source: MSNBC.com
McDonald'sGovor will acquire all of McDonald's locations in Russia and will operate them under a new brand. He also agreed to retain employees for at least two years, on equivalent terms, and fund the salaries of corporate employees who work in 45 regions of the country until the deal closes and existing liabilities to suppliers, landlords and utilities.said on MondayThe sale is expected close in the coming weeks if it secures regulatory approval. It spells the end of an era for the fast-food giant, which first entered the country just months before the Soviet Union dissolved."McDonald's in Russia embodied the very notion of glasnost and took on outsized significance," CEO Chris Kempczinski wrote in a letter to the McDonald's system on Monday after the company announced its intent to sell.In the three decades since opening its first location in Moscow, McDonald's had grown its Russian business to roughly 850 locations. The company owned about 84% of those restaurants, while the rest w
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- MCD's page on the SEC website