McDonald’s Corp is inviting bids for a significant stake in its Japan unit McDonald’s Holdings Co Japan Ltd, the Wall Street Journal reported, citing people familiar with the situation.
The fast-food company owns just under 50% of its Japanese unit, and is looking to sell up to 33%, with bids due next week, the report said.
A number of private-equity firms are considering bids, the report said.
Morgan Stanley is running the sale, the newspaper reported, citing one of the sources.
McDonald’s (MCD, -0.49%)—which last week agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd and Carlyle Group—said in January last year that it is looking to sell a portion of its stake in its Japanese business.
The company did not immediately respond to requests for comment outside regular business hours.
Feature Image: An employee of McDonald’s Japan serves the new menu “Vegetable Chicken Burger” at a restaurant in Tokyo on May 21, 2015. Photograph by Yoshikazu Tsuno—AFP/Getty Images