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Burger King Faces Difficulty In Exiting Russian JV: Reuters

Restaurant Brands International Inc (NYSE:QSR) owned Burger King is finding it difficult to close its joint venture in Russia, Reuters…
byShivani Kumaresan
June 3, 2022
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  • 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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