Big Law

McDonald’s Is Selling Its Russian Business to the Current Siberian Licensee

McDonald’s said Thursday it has struck a deal to sell its Russian business to Alexander Govor, its current licensee in the market.

Govor 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.

Financial terms of the deal were not disclosed.


Read the source article at cnbc.com

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