McDonald's sells Singapore, Malaysian franchise to Saudi group | Reuters

McDonald's sells Singapore, Malaysian franchise to Saudi group | Reuters:
"McDonald's Corp said on Friday it had sold the franchise rights for its restaurants in Singapore and Malaysia to Saudi Arabia's Lionhorn Pte Ltd as part of a plan to move away from direct ownership in Asia.

The fast-food chain said it transferred its ownership interest in 390 restaurants, more than 80 percent of which were company-owned, on Dec. 1 to Lionhorn.

Lionhorn is led by Sheik Fahd and Abdulrahman Alireza, who are franchisees for nearly 100 McDonald's restaurants in the western and southern regions of Saudi Arabia."

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