McDonald's Corp MCD:NYSE

Last Price$247.69Cboe Previous Close - Real-Time Last Sale as of 4:00PM ET 6/29/22
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Bid (Size)$242.00 (3)
Ask (Size)$270.00 (2)
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McDonald's to Sell Russian Business to Current Licensee

8:50AM ET 5/19/2022 MT Newswires
McDonald's (MCD) said Thursday that it has initiated a process to sell its Russian business with a sale and purchase agreement with existing licensee Alexander Govor.

Under the terms of the deal, Govor, who has been a McDonald's licensee since 2015 and operates 25 restaurants in Siberia, will acquire McDonald's entire restaurant portfolio, but will operate under a different brand. The deal is subject to certain conditions, including regulatory approval, with closing expected to occur in the coming weeks.

Govor has also agreed to fund the salaries of corporate employees who work in 45 regions of the country until closing, and fund existing liabilities to suppliers, landlords and utilities.

McDonald's shares slipped 0.1% in premarket trading.

Price: 230.75, Change: -0.3, Percent Change: -0.13