“Following the announcement of its exit from the Russian market and the beginning of the process of selling its Russian business, McDonald's Corporation announced the conclusion of a sale and purchase agreement with an existing licensee,” according to a press release published by PR Newswire.
Under the agreement, Govor will acquire the entire portfolio of restaurants and operate them under the new brand.
On May 16, McDonald's announced its withdrawal from the Russian market and the beginning of the sale of its business in Russia.
Pavel Kovsharov, a member of the expert council of entrepreneurs under the Moscow government, noted that leaving Russia by selling the business for the company is the only option in the current situation.