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This article is more than 2 year old.

McDonald's eyes new partners to run Connaught Plaza Restaurants, says report

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The RP-Sanjiv Goenka Group and Coca-Cola's bottling partner Moon Beverages are in talks with McDonald’s to take over Vikram Bakshi’s Connaught Plaza Restaurants.

McDonald's eyes new partners to run Connaught Plaza Restaurants, says report
The RP-Sanjiv Goenka Group and Coca-Cola's bottling partner, Moon Beverages are in talks with McDonald’s to take over Vikram Bakshi’s Connaught Plaza Restaurants (CPRL), reported the Economic Times, quoting sources.
“Negotiations with potential partners are on and would be long-drawn since the deal will also involve complexities of long-term leases that CRPL had inked. Many of the real estate deals will have to be rest in sync with current rates,” officials were quoted as saying by the daily.
There is speculation that Amit Jatia-led Hardcastle Restaurants, the operator of McDonald’s outlets in south and west India, may seek to run the business nationally, the report added quoting sources.
The company is searching for a developmental licensee, adding that it has no further updates on the development, Barry Sum, director, corporate relations Asia-Pacific, told the paper.
McDonald’s on Wednesday said that it will take over the 165 outlets run by CRPL, after the fast-food chain and Bakshi told the National Company Law Appellate Tribunal (NCLAT) on Monday that they are working towards an out-of-court settlement to end their five-year-old dispute.