Jan 12 McDonald's Corp is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co Japan Ltd, the Wall Street Journal reported, citing people familiar with the situation.
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. on.wsj.com/2jmINjh
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 and Carlyle Group LP - said in January last year that it is looking to sell a portion of its stake in its Japanese business.
The company did not immediately respond to requests for comment outside regular business hours. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)