HONG KONG/SINGAPORE McDonald’s Corp (MCD.N) is nearing a deal to sell 20-year franchise rights for its Singapore and Malaysia outlets to Saudi Arabia’s Reza group, in a transaction estimated at up to $400 million, people familiar with the matter said.
Reza Food Services Co. Ltd, which owns and operates McDonald’s restaurants in the western and southern region of Saudi Arabia, has tapped Malaysian bank CIMB (CIMB.KL) to finance the deal, said two of the sources, who declined to be identified as the deal has not been publicly announced.