McDonald's inviting bids for part of Japan unit: WSJ

Thu Jan 12, 2017 8:51am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - McDonald's Corp (MCD.N: Quote) is inviting bids for the sale of a 33 percent stake in its Japan unit McDonald's Holdings Co Japan Ltd (2702.T: Quote), the Wall Street Journal reported, citing people familiar with the situation.

The fast-food company owns just under 50 percent of the unit. Bids are due next week and a number of private-equity firms are considering bids, the Journal reported.

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 (0267.HK: Quote) and Carlyle Group LP (CG.O: Quote) — said in January last year that it was looking to sell a portion of its stake in the Japanese business.

"McDonald's Corp is continuing to explore a potential sale of a portion of its ownership in McDonald's Japan. There have been no decisions made at this time," company spokeswoman Terri Hickey said in an email.

(Reporting by Sruthi Ramakrishnan in Bengaluru; additional reporting by Aravind K; Editing by Shounak Dasgupta)

Customers are seen through the windows of a McDonald's store (top) in Tokyo, while others stand in line in front of cash registers, July 22, 2014.   REUTERS/Yuya Shino/File Photo