(Reuters) - McDonald’s Corp (MCD.N) is inviting bids for the sale of a 33 percent stake in its Japan unit McDonald’s Holdings Co Japan Ltd (2702.T), 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. on.wsj.com/2jmINjh
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) and Carlyle Group LP (CG.O) — 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