McDonalds buyer

Russian McDonald's buyer to rebrand restaurants

Alexander Govor, who currently operates 25 McDonald's restaurants in Siberia, will take on the firm's restaurants and staff, operating them under a new brand, the fast food giant said.

It did not disclose the sale price, but has warned investors it would take a more than $1 billion hit from the exit.

McDonald's had operated in Russia for more than 30 years.

The opening of its first restaurant in Moscow in 1990 came to symbolise a thaw in Cold War tensions.