McDonald’s is selling its Russian operations. His stock barely moves.

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McDonald’s is selling its business in Russia.

Erin Trieb/Bloomberg

McDonald’s

withdraws from Russia some 30 years after entering the country.

The fast-food giant will sell its business to a local buyer who won’t be able to use the name or logo. McDonald’s (ticker: MCD) concluded its position there was untenable after Russia invaded Ukraine earlier this year, sparking a humanitarian crisis, the company said in a statement on Monday.

McDonald’s, which began closing restaurants in March, will try to ensure employees in Russia are paid until any deals close. He expects a charge of $1.2 billion to $1.4 billion, writing off net investment and recognizing foreign exchange losses.

McDonald’s updated its guidance for 2022, saying the charge means its adjusted operating margin will be in the “average 40%” range.

“We have a commitment to our global community and must stay true to our values,” said chief executive Chris Kempczinski. “And our commitment to our values ​​means that we can no longer make the Arches shine there.”

The stock fell slightly to $245 in premarket trading on Monday.

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