McDonald's Corp is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co Japan Ltd <2702.T>, the Wall Street Journal reported, citing people familiar with the situation. 2702.T>
Continue Reading Below
The fast-food company owns just under 50 percent of its Japanese unit, and is looking to sell up to 33 percent, with bids due next week, the report said.
A number of private-equity firms are considering bids, the report said.
Morgan Stanley is running the sale, the newspaper reported, citing one of the sources.
McDonald's ��� which last week agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd <0267.HK> and Carlyle Group LP ��� said in January last year that it is looking to sell a portion of its stake in its Japanese business. 0267.HK>
The company did not immediately respond to requests for comment outside regular business hours.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)