McDonald's buys Vikram Bakshi's 50% stake in Connaught Plaza Restaurants

Ending a six-year long ownership battle, McD takes full control of CPRL

Ending the six year-long bitter fight, McDonald’s India (McD) and Vikram Bakshi, the erstwhile managing director (MD) of Connaught Plaza Restaurants (CPRL), have finally decided to lay down arms.

McD, the local arm of the American burger major McDonald’s, has bought over the 50 per cent stake held by Bakshi and his wife in CPRL for an undisclosed amount, the company announced on Thursday.

With this move, McD, along with its affiliate McDonald’s Global Markets LLC — a US-headquartered subsidiary of McDonald’s Corporation — now fully controls CPRL, the firm that operates all McD outlets in North and East India.