Fast-food giant McDonald’s Corporation (NYSE:MCD) has announced that it will be repurchasing all its franchises in Israel. This move comes amidst ongoing tensions in the Middle East, which have had a significant impact on the company’s business.
The employees and restaurant operations will continue under McDonald’s ownership, with the company expressing its commitment to the Israeli market and ensuring a positive experience for both employees and customers.
McDonald’s did not specify the date of the purchase but stated that the closing is subject to certain conditions and will be finalized in the coming months.
The company’s licensed markets business, which includes most of its Middle East locations, only saw a 0.7% increase in the last quarter, a figure that was significantly impacted by the conflict.
On Thursday, the stock closed at $270.20, with a change percent of 0.04% from the previous close of $270.09. The stock’s 52-week high was $302.39, and the 52-week low was $245.73.
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