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Jan, 31 2014

Bakshi offers to buy out McDonald's stake

Vikram Bakshi may tie up with other fast food chains entering India.

Vikram Bakshi, the partner of McDonald’s in India, has offered to buy the US food major’s 50 per cent equity stake in their joint venture Connaught Plaza Restaurants. According to media report, Bakshi’s lawyers proposed the deal before the Company Law Board on 30th January.

Sources close to Bakshi say he plans not to continue with the McDonald’s brand, for which the company pays royalty, and instead, run the chain on his own, under a different brand name.

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