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Food & Beverage

McDonald's to draw down stake in Japanese unit to 35%

US fast-food giant grants strong-performing Japan business greater independence

U.S. burger chain McDonald's will reduce its interest in the Japanese unit while maintaining veto power over special resolutions.   © Reuters

NEW YORK -- The U.S. fast-food chain McDonald's will sell off a significant chunk of shares held in McDonald's Holdings (Japan), a move that will grant its cross-Pacific counterpart greater independence to recover amid a pandemic.

McDonald's, which currently holds 49.99% ownership in McDonald's Japan, will sell about a 15% stake, the American company said Monday during a second-quarter earnings call. The shares are held via Canadian and Singaporean units.

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