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McDonald's settles with former India partner, buys out Connaught Plaza Restaurants - report

BENGALURU, May 9 (Reuters) - McDonald's Corp's Indian arm has reached a settlement with former partner Vikram Bakshi, acquiring full ownership in their joint venture Connaught Plaza Restaurants Ltd, the Economic Times reported https://economictimes.indiatimes.com/industry/cons-products/food/mcdonalds-buys-vikram-bakshis-50-stake-in-connaught-plaza-restaurants/articleshow/69254066.cms?from=mdr on Thursday.

The U.S. fast food chain was involved in a long-standing legal battle with Bakshi, claiming his company, which operated outlets of the chain in north and east India, breached the terms of their franchise agreements.

Both McDonald's India and Bakshi did not immediately respond to Reuters' request for comment. (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)