INTERNATIONAL | Staff Reporter, Singapore

McDonald's mulls sale of Singapore, Malaysia outlets to Saudi group

Saudi Arabia's Reza group is interested in purchasing the franchise rights.

To reorganize its Asian business, the fast food chain could be finalizing a deal to sell its 20-year franchise rights for its Singapore and Malaysia outlets to the group for up to $400 million.

Reza Food Services Co. Ltd, which owns and operates McDonald's restaurants in the western and southern region of Saudi Arabia, had reportedly tapped Malaysian bank CIMB (CIMB.KL) to finance the transaction.

McDonald’s aims to pursues an international turnaround plan which would bring in partners as the company switches to a less capital-intensive franchise model in Asia.

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