Premier Restaurants Romania, the company that owns the McDonald’s franchise in Romania, has reduced its capital by EUR 7.8 million due to an excess of liquidity.

The money will be returned to the single shareholder, Premier Capital SRL, reports local Profit.ro. The amount represents 83.5% of the company’s total capital. Following the reduction, the firm will be left with a capital of EUR 1 million in cash and EUR 856,000 in kind.

Premier Capital SRL is 90% owned by Dutch-registered Premier Capital BV, a subsidiary of the Maltese company that took over the franchise of the McDonald’s restaurants in Romania at the beginning of this year in a EUR 65 million deal. The remaining 10% is owned by Daniel Boaje, McDonald's Romania general director.

Premier Restaurants Romania has 67 McDonald's restaurants across 21 cities in Romania. The company had a turnover of EUR 115 million and a net profit of EUR 10 million in 2015. It had over EUR 12 million in its bank accounts at the end of last year, according to official data from the Finance Ministry.

editor@romania-insider.com