McDonald’s Corp. is in advanced talks to sell Southeast Asia franchise rights to a group of investors including Saudi Arabia’s Reza Group, people with knowledge of the matter said.
The sale of 20-year McDonald’sfranchise rights in Malaysia and Singapore could fetch more than $400 million, one of the people said, asking not to be identified because the information is private.
McDonald’s is seeking local partners to run its restaurants in Malaysia and Singapore as it pursues an international turnaround plan put in place after Chief Executive Officer Steve Easterbrook took over last year. The Big Mac maker, which has a $97 billion market value, is revamping its ownership structure throughout Asia, including plans to sell operations in China, Hong Kong and South Korea.
