McDonald’s inviting bids for 33 per cent stake in Japan unit: Reports

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January 12, 2017 6:34 PM

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 percent of its Japanese unit, and is looking to sell up to 33 percent, with bids due next week, the report said. (Reuters)The fast-food company owns just under 50 percent of its Japanese unit, and is looking to sell up to 33 percent, with bids due next week, the report said. (PTI)

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 percent of its Japanese unit, and is looking to sell up to 33 percent, with bids due next week, the report said.

A number of private-equity firms are considering bids, the report said.

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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.

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