Alexander Govor has purchased McDonald’s entire Russian restaurant portfolio and will operate the restaurants under a new brand.

Since 2015, Mr. Govor has served as a McDonald’s licensee and has operated 25 restaurants in Siberia. As part of the deal, existing employees of the McDonald’s brand will be retained for at least two years on equivalent terms.

Additionally, Govor has agreed to fund the salaries of corporate employees working around the country while also paying existing liabilities to suppliers, landlords, and utilities.