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McDonald’s Reaches Deal to Promote Russia Industrial to Alexander Govor

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A view shows a closed McDonald's restaurant in Moscow, Russia (Image: Reuters)

A perceive reveals a closed McDonald’s restaurant in Moscow, Russia (Image: Reuters)

Govor agreed to defend up employees for at the least two years and fund exiting liabilities to suppliers, landlords and utilities, McDonald’s talked about

  • AFP
  • Final Updated: Would possibly possibly 20, 2022, 20: 21 IST
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McDonald’s has reached a deal to sell its Russia industry to Russian businessman Alexander Govor, a licensee of the chain, the restaurant company talked about Thursday. The announcement comes three days after McDonald’s announced it became as soon as exiting the Russian market in the wake of the Ukraine invasion.

Govor agreed to defend up employees for at the least two years and fund exiting liabilities to suppliers, landlords and utilities, McDonald’s talked about.

The price of the transaction became as soon as no longer disclosed.

McDonald’s talked about Monday it will sell the total Russian portfolio of 850 restaurants the usage of 62,000 employees, citing the humanitarian crisis in the wake of the Ukraine invasion, which has moreover sparked international sanctions.

“The industry in Russia isn’t any longer tenable, nor is it per McDonald’s values,” the corporate talked about in an announcement that announced plans to select a one-time price of $1.2 billion to $1.4 billion to jot down off the funding.

Govor, a licensee since 2015, has operated 25 restaurants in Siberia. He’s co-founding father of Neftekhimservice, a refining company, and a board member of any other firm hat owns the Park Inn resort and non-public clinics in Siberia.

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