Abans plc said in a statement that the local representative of McDonald’s, a well-known American business brand, is not a member of its group of companies.
The announcement filed by the company to the Colombo Stock Exchange (CSE) states that McDonald’s local franchisee, “International Restaurant Systems (Private) Limited is a separate company incorporated under the Companies Act No. 7 of 2007.
The 98.73% shareholder of International Restaurant Systems (Private) Limited is Rusi Pestonjee who is also the Managing Director of Abans PLC.
“International Restaurant Systems (Private) Limited is not a subsidiary or associate of Abans PLC or its parent company Abans Retail Holdings (Private) Limited. For the above reason the financial affairs of International Restaurant Systems (Private) Limited have not been merged with the financial affairs of Abans PLC,” clarifies Abans PLC.