(Image source: cdn01.vulcanpost.com)
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MacDonald’s sold it franchise in Singapore and Malaysia to Saudi Arabia’s Lionhorn Pte Ltd on Friday (02 December 2016) as part of a plan to move away from direct ownership in Asia.
It transferred 390 restaurant on 01 December 2016.
Reuters reported in October that McDonald’s was nearing a deal worth up to $400 million to franchise the outlets to Reza group, which also owns and operates McDonald’s outlets in the western and southern regions of Saudi Arabia.