Deals
McDonald’s Japan Plunges After Report U.S. Parent May Sell Stake
- Parent seeks to sell up to 33% outstanding shares, Nikkei says
- Company sees 38 billion yen loss in 2015 after food scandals
A customer dines at a McDonald's restaurant in Tokyo. The stock plunged as much as 7.9 percent in Tokyo trading, the sharpest intraday drop since March 2011.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
McDonald’s Holdings Co. (Japan) fell the most in almost five years after the Nikkei newspaper reported its U.S. parent plans to cut its stake in the loss-making unit that’s struggling to recover from a series of food scandals.
McDonald’s Corp., the world’s largest restaurant chain and owner of about half of the Tokyo-based company, is seeking to sell 15 percent to 33 percent of the outstanding shares and an executive has met five or so potential buyers including trading houses and investment funds, Nikkei reported Tuesday without saying where it got the information from.