(Reuters) – McDonald’s said on Monday it had launched procedures to exit the Russian market, where it has operated for 30 years, due to Russia’s invasion of Ukraine.
The American group had closed all of its restaurants in Russia in March, but only temporarily.
“The humanitarian crisis created by the war in Ukraine and increasingly unpredictable business conditions have led McDonald’s to conclude that retaining ownership of the Russian business is no longer tenable,” it said in a statement.
The fast food giant’s Russian operations will be sold to a local investor, he said.
This exit from Russia should result in the group’s accounts by an exceptional charge of 1.2 to 1.4 billion dollars (1.15 to 1.34 billion euros).
(Reportage Uday Sampath, French version Marc Angrand, edited by Matthieu Protard)
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