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McDonald’s sells its China business in $2bn deal

McDonald’s sells its China business in $2bn deal

Publicerat av Tony Harkén måndag, 09 januari 2017.

Fast food giant McDonald’s has agreed to sell the controlling stake in its China and Hong Kong business to state-owned Chinese conglomerate Citic and US private equity firm Carlyle Group. The deal is part of the company’s plans to streamline operations.

It still needs approval from regulators and is expected to be completed by mid-2017.

Citic and its investment management unit Citic Capital will have 52 percent share of the partnership while Washington-based Carlyle will take a 28 percent stake.

McDonald's will keep the remaining 20 percent of the China business. The company originally wanted to raise up to $3 billion from the sale but later decided to keep a minority stake; sources told Reuters.

Read more at - https://on.rt.com/7zu4

Publicerat av

Tony Harkén

kina

Klockan i Hong Kong, Kina

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