McDonald’s will sell its restaurants in Russia to businessman Alexander Govor and rebrand under a new name in June.
McDonald’s will keep its 850 chains of restaurants, jobs, connections with most suppliers, and menus.
Govor has been a McDonald’s licensee since 2015 and helped the chain expand into remote Siberia, where he operates 25 restaurants.
Govor will also keep McDonald’s 62,000 Russian employees for at least two years on equal terms and fund current liabilities to suppliers, landlords, and utilities.
According to TASS, Russia’s Industry and Trade Minister Denis Manturov said that the agreement followed after a ‘long and difficult’ negotiation process and that the government would provide Govor with all the necessary assistance to begin operations.
McDonald’s announced in March 2022 that it temporarily closed all its restaurants in Russia and suspended all operations in the Russian market due to events around Ukraine.
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