McDonald's settles with former India partner, buys out Connaught Plaza Restaurants - report

FILE PHOTO: A sign for the U.S. fast food restaurant chain McDonald's is seen outside one of their restaurants in Sint-Pieters-Leeuw, near Brussels, Belgium January 30, 2019. REUTERS/Yves Herman - Copyright YVES HERMAN(Reuters)

By Reuters

Published on 09/05/2019 - 17:04•Updated 19/04/2024 - 23:13

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BENGALURU (Reuters) - McDonald's Corp's Indian arm has reached a settlement with former partner Vikram Bakshi, acquiring full ownership in their joint venture Connaught Plaza Restaurants Ltd, the Economic Times reported on Thursday.

The U.S. fast food chain was involved in a long-standing legal battle with Bakshi, claiming his company, which operated outlets of the chain in north and east India, breached the terms of their franchise agreements.