COSTA RICA/USA: McDonald's buyback in Costa Rica
McDonald's corporation has taken control of the 23 restaurants operating in Costa Rica under its brand name. During the next six months the corporation will consider candidates for taking over the restaurants. If all goes according to schedule, some or all of the restaurants will have new owners within a year. Edgardo Navarro, head of McDonald's operations for Central America indicated that the move was made in order to increase the pace of expansion in Central America. The corporate takeover of Costa Rican McDonald's restaurants became effective on 1 September, 2000. It marked the temporary end of 30 years of restaurant ownership by Costa Rican investors. The buyout came as the result of about six months of negotiation culminating in the formal purchase on 31 August. During the first stage of the reorganisation, the corporation will invest US$3m, primarily on remodelling projects. Starting in the year 2001, three new restaurants will be opened.For years, McDonald's of Costa Rica, officially registered as
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