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McDonald’s arranging to sell major stake in Japan unit

Kyodo

McDonald’s Corp. has organized a primary tender to sell a major stake in its Japan unit McDonald’s Holdings Co. (Japan), sources said Thursday.

The global fast-food chain owns roughly 50 percent of the unit, of which up to 33 percent will be sold. The sources said the value of the transaction could be well over ¥100 billion ($877 million).

Some investment funds have taken part in the bid, the sources said, with Permira of Britain and Bain Capital of the United States thought to be among them. Morgan Stanley is running the sale, according to the Wall Street Journal.

McDonald’s agreed Monday to sell the bulk of its China and Hong Kong operations to a Chinese state-backed conglomerate and a U.S. investment fund. It tried but failed to sell a portion of its stake in the Japanese business last year.