McDonald’s Turkey’s managing company Anatolian Restaurants Management was sold for 280,739,431 Turkish Liras, which is approximately $46 million.
All of the managing company’s stocks belonged to Anadolu Group, one of Turkey’s largest conglomerates, and was sold to Birleşik Holding (“United Holding”).
The company made a statement to Borsa Istanbul’s Public Disclosure Platform and said that the stocks will change hands officially after the sale is approved by the Turkish Competition Board.
“The stocks will be transferred after the necessary paperwork is completed and should be completed in the first quarter of 2020,” said the managing company.
Anadolu Group will maintain 75 percent of the sale revenue in their equity to benefit from a tax exemption.