Siberian businessman Alexander Govor will buy the Russian business of McDonald’s. This was announced on May 19 by the American fast food chain. The amount of the transaction is not called.
“Under this agreement, Govor will acquire the entire portfolio of McDonald’s restaurants and operate restaurants under the new brand. The agreement remains subject to certain conditions, including regulatory approval, and is expected to close in the coming weeks.
According to the agreement, it is envisaged that employees will retain their jobs for a period of at least two years. In addition, the buyer agreed to finance the wages of corporate employees who work in 45 regions of the country until the closing of the deal. It will also finance existing liabilities to suppliers, landlords and utilities.
Two sources in the market told Izvestia that the restaurants would reopen in July.
Alexander Govor, an oilman from Novokuznetsk, managed 25 McDonald’s establishments in Siberian regions through the GiD company. I have been a licensee since 2015.
The Minister of Industry and Trade of the Russian Federation Denis Manturov said that the Ministry of Industry and Trade will assist the Russian owner of McDonald’s assets in the Russian Federation in establishing work.
McDonald’s announced the suspension of work in Russia from March 14. The decision was explained by the arisen “operational, technical and logistical difficulties.”
