McDonald's largest franchisee's IPO could near $1B
NEW YORK (AP) - April 13, 2011 (WPVI) -- McDonald Corp.'s biggest franchisee is expected to go public this week in an offering whose value could approach $1 billion.
Argentina-based Arcos Dorados Holdings Inc. operates the McDonald's restaurants in 19 countries and territories in Latin America and the Caribbean.
The company has been on a growth binge since it formed in 2007, opening new stores and remodeling old ones.
Last year, it increased revenue by 16 percent compared with 2008. It hopes to capitalize on the upwardly mobile markets where it operates.
The IPO's value would total about $874 million if shares sell at the midpoint of the expected $13 to $15 range.
Arcos Dorados, which translates to "Golden Arches," said it expects to use most of its share of the proceeds to open and remodel restaurants.
mcdonalds, stock market, business/finance
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