Retail in Asia

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McDonald’s exploring sale of stake in Japanese arm

McDonald’s is reaching out to investors about selling a part of the fast-food company’s stake in its Japanese arm for about JPY100 billion yen (USD826.2 million), the Nikkei business daily reported, without citing sources.

A McDonald’s executive recently traveled to Japan to talk with five or so potential buyers, including trading houses and investment funds, about selling 15-33 percent of McDonald’s (Japan) outstanding shares, the newspaper said.

McDonald’s, which owns nearly half of the Japanese unit, has asked potential buyers to respond by mid-January, and the top candidate will likely be granted the right of first refusal, Nikkei said.

(Source: CNBC)