McDonald's sells its Nordic restaurants to Guy Hands

COPENHAGEN, Denmark (AP) - McDonald's says it has sold its Nordic operations to Guy Hands, chairman of British equity firm Terra Firma, who will become the main franchiser for Denmark, Norway, Finland and Sweden.

McDonald's says the world's biggest burger chain will "transfer its ownership interest" and grant a license to Hands who becomes "strategic partner."

The eatery chain says the deal involves approximately 435 restaurants in the four countries, adding more than 95 percent of them are franchised.

McDonald's said Friday the deal is expected to be completed around the end of the first quarter of 2017, and was the result of "a rigorous evaluation and selection process over the past year."

Pia Tobberup, spokeswoman for McDonald's in Denmark, said the restaurants will keep the name and products.