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