January 31 (SeeNews) - Turkey's Anadolu Group Holding [IST:AGHOL] has signed a deal to sell 100% of the shares of Anadolu Restoran Isletmeleri, through which it operates the McDonald's chain in the country, to Birlesik Holding Limited for 280.7 million Turkish lira ($46.9 million/42.5 milion euro) in cash.
The agreed price values Anadolu Restoran at 317.08 lira per share, the parent company said in a statement to the Istanbul stock exchange on Thursday.
You can subscribe to our M&A newsletter here
Subject to approval by the relevant authorities, the agreed transaction is expected to close in the first quarter of 2020.
The Anadolu Group announced in May 2019 it would explore its options for Anadolu Restoran.
The group has been operating McDonald's fast-food restaurants in Turkey since 2005, according to data published on its website.
(1 euro = 6.59111 Turkish lira)