The fast food chain is selling up to a third of its stake in its Japan unit, and private equity firms are considering making bids, according to the Wall Street Journal. Fred Katayama reports.
The Golden Arches is selling a lot more than burgers and shakes. McDonald's is reportedly putting up to a third of its stake in its Japan unit up for sale. The Wall Street Journal reports a number of private equity firms are considering putting in bids. The news comes just days after McDonald's sealed a deal to sell the bulk of its China and Hong Kong business to the state-owned enterprise CITIC and private equity firm Carlyle Group. Restaurant chains like McDonald's have recently been selling and refranchising their stores so they can free up capital and focus on growing their brand. In October, Yum Brands spun off its KFC and Pizza Hut restaurants in China. McDonald's owns just under half of the Japan unit. It's a big business with $1.7 billion in revenue and a market cap of $3.5 billion. But until early last year, it had been losing money. A string of food safety scandals had kept customers away. McDonald's didn't respond to requests for comment.