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Benzinga

Business

Shivani Kumaresan

Burger King Faces Difficulty In Exiting Russian JV: Reuters

Burger King Russia MCD NYSE QSR McDonald Restaurant Brands Restaurant Brands International Inc Wikimedia Commons Ukraine

Restaurant Brands International Inc (NYSE:QSR) owned Burger King is finding it difficult to close its joint venture in Russia, Reuters reported.
The fast-food chain has been having a hard time exiting its partnership and about 800 franchised locations after Russia's invasion of Ukraine.
Restaurant Brands intended to dispose of its Burger King joint venture ownership stake in Russia.
The major problem is Burger King’s joint-venture-style master franchise agreement, where it does not own any of its locations in Russia, unlike McDonald's Corp (NYSE:MCD).
Related: McDonald's Exits Russia - Read The Latest Update
Price Action: QSR shares closed higher by 1.93% at $52.85 on Thursday.
Photo via Wikimedia Commons

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