McDonald's finds a buyer for Russian restaurants

McDonald's restaurant is seen in the center of Dmitrov, a Russian town 75 km., (47 miles) north from Moscow, Russia, on Dec. 6, 2014. McDonald’s says it's started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.” The Chicago-based company had temporarily closed its stores in Russia but was still paying employees. (AP Photo/FILE)

McDonald’s has begun the process of selling its restaurants in Russia after more than 30 years in the country.

The Chicago burger giant said Alexander Govor, who operates 25 restaurants in Siberia, has agreed to buy McDonald’s 850 Russian restaurants and operate them under a new name. McDonald’s didn’t disclose the sale price.

The company said Monday that it would leave Russia after its invasion of Ukraine.

The sale agreement is subject to regulatory approval and is expected to close within a few weeks, McDonald’s said.

Govor, a licensee since 2015, has also agreed to retain McDonald’s 62,000 Russian employees for at least two years on equivalent terms. Govor also agreed to pay the salaries of McDonald’s corporate employees until the sale closes.