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McDonald's To Sell Russian Business To Alexander Govor

McDonald's Corp. (MCD) has entered into a sale and purchase agreement with its existing licensee Alexander Govor, under which, Govor will acquire the company's entire restaurant portfolio in Russia and operate the restaurants under a new brand. It was previously announced that McDonald's will exit the Russian market.

McDonald's Corp. noted that the sale and purchase agreement provides for employees to be retained for at least two years, on equivalent terms.

Since 2015, Govor has served as a McDonald's licensee and has operated 25 restaurants in Siberia.

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