McDonald's ready to sell remaining stake in Chipotle

McDonald's said it plans to sell its remaining stake in Chipotle Mexican Grill by the end of October.

 

In the coming weeks, McDonald's will file a registration statement with the Securities and Exchange Commission to sell its remaining interest of the fast-casual chain. The exchange of Chipotle shares for McDonald's stock will be tax free.

 

"This will allow us to buy back McDonald's shares using highly appreciated Chipotle stock with no tax on the appreciation," Matthew Paull, McDonald's chief financial officer, said on a conference call with analysts.