Foodtastic intends to further develop the Quesada brand by opening more than 50 locations over the next 36 months.
Prior to the deal, Temasek owned a 2.86% stake in Zomato through another investment arm.
The new test restaurant concept is smaller than traditional McDonald’s restaurants in the US.
The food delivery platform will provide severance pay for those impacted by the decision.
Twelve restaurants are scheduled to open in 2023, with six opening in new markets for Condado Taco.
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As part of the expansion, 600 restaurants will be opened in several countries over the next ten years.
The restaurants will be opened across nine provinces in Canada.
The temporary pub will run until 1 December.
The move is said to be part of its global annual review process.
The move involves the closure of its customer service centre in Borehamwood, UK.