3 Jun 2022 20:05

McDonald's LLC in Russia renamed PBO System

MOSCOW. June 3 (Interfax) - McDonald's LLC in Russia has been renamed PBO System, according to data in the SPARK-Interfax analytical system.

The Federal Anti-monopoly Service (FAS) the other day reported on the planned renaming of the company, when the watchdog approved the application of Alexander Govor's Club Hotel LLC to acquire the Russian business of McDonald's.

The structure of the deal envisages Club Hotel LLC acquiring a 100% stake in McDonald's LLC and DVRP LLC. McDonald's LLC had been in the process of reorganization since February 18 of this year by adding three more Russian subsidiaries of McDonald's Corp. , including SRP LLC, YURP LLC and CJSC Moscow-McDonald's. DVRP LLC, established at the end of 2020 to manage the chain of restaurants in Russia's Far East, has remained outside the fold.

The McDonald's Corp. chain in Russia had comprised over 850 fast food restaurants. McDonald's suspended operations of its restaurants in Russia on March 14, then announced that it was exiting the Russian market altogether on May 16. McDonald's agreed to sell its business in Russia to Alexander Govor at the end of May. Govor was the company's franchisee partner, and has operated 25 restaurants in Siberia since 2015.