USA, Oak Brook, Illinois. A Saudi Arabian group now holds McDonald's franchise rights in Malaysia. This was reported by The Star online.
McDonald’s did not disclose the financial terms of the deal. Reuters reported in October that McDonald’s was nearing a deal worth up to US$ 400mill. (RM1.78bil) to franchise the outlets to Reza group, which also owns and operates McDonald’s outlets in the western and southern regions of Saudi Arabia. The Lionhorn deal is in line with McDonald’s plans to bring in partners in Asia as it switches to a less capital-intensive franchise model.
The company said it has now franchised about 1,300 outlets as a part of its target to become 95% franchised by the end of 2018.