McDonald's, Vikram Bakshi announce out-of-court settlement, end dispute

As part of the agreement, McDonald's will buy out for an undisclosed sum Vikram Bakshi and his entities' 50 per cet stake in Connaught Plaza Restaurants Pvt Ltd (CPRL)

Estranged partners McDonald's and Vikram Bakshi Thursday announced an out-of-court settlement, ending their almost six-year-long dispute.

As part of the agreement, the US fast food chain will buy out for an undisclosed sum Vikram Bakshi and his entities' 50 per cet stake in Connaught Plaza Restaurants Pvt Ltd (CPRL) that operates McDonald's chain of quick service restaurants in northern and eastern India.

The company also announced appointment of Robert Hunghanfoo as Head of CPRL with immediate effect, who will be supported by McDonald's global leaders along with the CPRL team, to facilitate a smooth transition.

"CPRL is now wholly owned by MIPL and