The parent company that is McDonalds International Branch Holdings LLC, has shelled out a whopping Rs 70 crore for its Indian counterpart Mcdonald’s India private Limited (MIPL), according to data accessed. The data has been provided by business intelligence platform, Tofler. The transaction that happened between the two showed that the company bought 700,000 shares worth Rs 10 on June 20, 2019.
The announcement was made on Thursday that McDonalds Pvt Ltd (MIPL) has acquired full ownership of CPRL Connaught Plaza Restaurants Ltd., and that CPRL is now fully owned by MIPL and its affiliate McDonald’s Global Markets LLC or MGM.
The association between Bakshi and McDonald’s had begun in 1995 when, under a 25-year deal, the two partners formed a 50:50 joint venture company — Connaught Plaza Restaurant — to set up outlets in the north and the east under the franchisee model.
At present, McDonald’s had two business entities in India. The other one is Amit Jatia’s Hardcastle Restaurants, which runs McDonald’s business in southern and western India.