McDonald’s to exit Russia, sell business to local buyer

By AFP 16 May 2022, 2:25 pm

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A McDonald's restaurant is seen in the center of Dmitrov, a Russian town 75 kilometers (47 miles) north of Moscow, Russia, December 2014. (AP Photo/FILE)

NEW YORK — American fast-food giant McDonald’s will exit the Russian market and sell its business in the country to a local buyer, the company says.

In a statement today it says it’s “pursuing the sale of its entire portfolio of McDonald’s restaurants in Russia to a local buyer” adding that would entail existing outlets there “no longer using the McDonald’s name, logo, branding, and menu, though the Company will continue to retain its trademarks in Russia.”