The American giant of McDonald’s proceeded to sell the business to Russia to the businessman who already had the license to operate stores in the country (franchise), Alexander Govor.
According to Reuters, the restaurants will operate under a new brand, ending more than three decades of presence.
The largest hamburger chain in the world owns about 84% of its almost 850 restaurants in Russia and has become one of the largest global companies to leave the country. However, it will retain its trademark.
Govor has been managing Russian McDonald’s since 2015 and has helped the chain expand into remote Siberia, where it operates 25 restaurants.
The two partners refused to disclose the financial terms of the agreement, which among other things provides for the retention of employees for at least two years on the same terms.
Govor will pay the salaries of the workers in 45 regions of the country until the completion of the sale, which is expected in the next period.
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