KUALA LUMPUR -- McDonald's, the world's largest fast-food chain, has sold its Malaysia and Singapore franchise license to a Saudi group which already holds a developmental license for the chain for the western and southern regions of Saudi Arabia.
Financial terms of the transaction were not disclosed in a statement by McDonald's Malaysia. However, press reports had valued the deal at around $400 million for 20-year franchise rights. The change of ownership took effect last Thursday.
