McDonald’s Corporation and its Sri Lankan franchise partner, International Restaurant Systems (Pvt.) Ltd, have ended their business relationship, following a mutually agreed legal settlement, the companies said in a joint statement.

The statement confirmed the franchise partnership’s termination and expressed appreciation to the public for its support. The companies also urged the public to dismiss any rumours or speculation that had surfaced in the media during the recent months.

The statement did not provide details on the terms of the settlement or indicate whether McDonald’s would pursue new operations in Sri Lanka.