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McDonald's inviting bids for 33% stake in Japan unit: WSJ
[BENGALURU] McDonald's Corp is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co Japan Ltd, the Wall Street Journal reported, citing people familiar with the situation.
The fast-food company owns just under 50 per cent of its Japanese unit, and is looking to sell up to 33 per cent, with bids due next week, the report said. A number of private-equity firms are considering bids, the report said.
Morgan Stanley is running the sale, the newspaper reported, citing one of the sources.
McDonald's - which last week agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd and Carlyle Group LP - said in January last year that it is looking to sell a portion of its stake in its Japanese business.
The company did not immediately respond to requests for comment outside regular business hours.