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McDonald’s Corp Is Selling Franchisee Rights In Malaysia And Singapore To Reza Food Services
The parent company of McDonald’s, McDonald’s Corp is going to sell the 20 year franchisee rights of its Singapore and Malaysia outlets to Reza Food Services. Reza Food Services already owns and operates McDonald’s outlets in Western and Southern Saudi Arabia.
The Deal
While the deal has not been made official, several news organizations are reporting that sources have confirmed that it has been finalized.
According to the sources, McDonald’s’ has agreed to sell the franchise rights for 20 years for up to $4000 million. Reza Food Services has approached CIMB, a Malaysian bank to finance the transaction.
McDonald’s has 120 restaurants in Singapore and 260 in Malaysia. Last July, it announced that it was looking for franchise partners.
The sale is a part of McDonald’s larger strategy in Asia where it is revamping ownership structures and looking to sell operations in China, Hong Kong and South Korea.
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