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McDonald’s to refranchise 1,600 units

OAK BROOK Ill. McDonald’s Corp. confirmed Friday it is refranchising nearly 1,600 units in Latin America and the Caribbean, a move that would spur growth in the overseas markets and reduce corporate earnings volatility, it said.

The company also reported a 22-percent jump in first-quarter profit on revenues that rose 11 percent to $5.46 billion.

The news sent McDonald’s stock price to an

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