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McDonald's (NYSE: MCD) has agreed to sell its Nordic restaurant business to Guy Hands, founder and chairman of Terra Firma Capital Partners.
Why it's the BFD: This is Hands doing the deal personally, not via Terra Firma. Expect this to raise all sorts of questions when the private equity firm returns to market for a new fund (which Hands previously said it will do).
Bottom line: "McDonald's said that Mr. Hands will become its so-called development licensee for Norway, Finland, Denmark and Sweden, overseeing the franchise network. Mr. Hands will provide capital to expand the business, which has about 435 restaurants in the region." -- WSJ