- Russia's fast-food scene is in for a massive overhaul as former McDonald's Corp (NYSE:MCD) restaurants are set to reopen under new branding and ownership, Reuters reported.
- The fast food restaurant chain was opened about three decades ago in early 1990.
- Recently, MCD entered into a sale and purchase agreement with its existing licensee Alexander Govor to sell its Russian business.
- Russia's invasion of Ukraine and the subsequent economic sanctions triggered the exit.
- McDonald's 'Golden Arches' have been taken down at sites in Moscow and St Petersburg, replaced by a new logo comprising two fries and a hamburger patty against a green background, the report added.
- Price Action: MCD shares closed lower by 1.40% at $242.16 on Thursday.
- Photo Via Wikimedia Commons
