NEW DELHI: Shares of Westlife DevelopmentBSE 5.22 %, which through its unit HardcastleBSE 1.53 % Restaurants own master franchisee rights of McDonald’s in west and south India, shot up over 15 per cent amid reports that the company was the front-runner to get the rights to operate the US chain’s restaurants in the North and East.
The stock rose 14.91 per cent to hit a high of Rs 282.80 on BSE.
McDonald’s on Monday snapped its franchise agreement with Connaught Plaza Restaurants (CPRL), which owned 169 outlets in total, which includes 43 in and around Delhi that have already been shut down.
Three industry executives told ET that Amit Jatia, the vice chairman of Hardcastle Restaurants for two decades, is the front-runner to get the rights to operate the US chain’s restaurants in the North and East.
A company spokesperson, while speaking to ET, neither denied nor confirmed any move to expand the partnership with Jatia. Ron Christianson, McDonald’s global head of corporate relations and foundational markets, would only say that the process to find a new partner was in the ..
Hello, My Name Is Sandip Oli. I am Form Kathmandu, Nepal.
No comments:
Post a Comment