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.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO