Russia to help new McDonald’s owner in Russia to set up

One of the words largest fast food chains McDonald’s confirmed on Thursday that they will sell out all business to the current licensee in Russia. The company has said that it can operate under a new brand name.

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One of the words largest fast food chains McDonald’s confirmed on Thursday. That they will sell out all business to the current licensee in Russia. The company has said that it can operate under a new brand name.

Tass news agency and Trade Minister Denis Manturov have together confirmed the news. That Alexander Govo will be the new business owner.

Trade Minister has said that the government is going to provide  the new owners of the Russian business of McDonald’s with all the assistance they need to set up the same.

Several International companies that were all set up there for decades. Later had flown away from the country after Russia’s Ukraine invasion

Major companies have decided to sell out the remaining assessed market shares of control to local Russian managers. Moreover, citing threats from economical sanctions from the west.

The economical sanctions have hit the Russian economy badly. As well as threats from several countries to seize their financial assets if they continue to be in Russia, supporting leftover businesses.

Renault, Inchcape, Shell and Fazer are a few major companies that handed over their assets or part of them to local managers in Russia.

Companies have cited economical reasons for their decision to seek employee safety and difficulty in finance management during the war.