Citic group and Carlyle group will take over 80% of McDonald’s enterprise in Asia. The newly-signed deal dictates the firms’ domination over 2,000 McDonald’s outlets across China and Hong Kong. The said undertaking conforms to the US chain store’s plan to establish more international franchises.
Under the $2.1 billion deal, China’s state-owned investment group, Citic acquires a 52% stake. The US private equity firm, Carlyle, picks up a 28% holding. The 20% remainder of the share is then kept by McDonald’s. Coincidentally, the owner of KFC and Pizza Hut, Yum brands, realigns business as both competing companies intend to bounce back after the recent food scare reports in Asia.
Vocabulary:
enterprise – a business organization
acquire – to get as one’s own
undertaking – the act of engaging in a business or project
realign – to change the position or direction slightly usually in relation to something else
bounce back – to return quickly to a normal condition after a difficult situation or event
True or False:
- Citic group and Carlyle group are firms that took over McDonald’s enterprise in Asia.
- These acquired McDonald’s outlets are located in China, Hongkong, and Taiwan.
- According to the article, Citic takes a higher percentage of acquired stake than Carlyle.
- KFC and Pizza Hut are owned by one the same company.
- McDonald’s and Yum Brands are both on a heated competition after the Asian food scare.
Defend your argument:
- People should avoid eating fast food and start a healthier eating lifestyle.
- Working individuals rely on fast food chains too much.
- Letting other companies acquire one company’s stake is an intellectual business strategy.
- Eating outside is expensive.
Express your opinion:
- Eating too much sugar and fat, like fast food, can cause a lot of illnesses.
- Most people think that eating in fast food restaurants are economical but it’s not.
- Share your thought about this quote: “The journey of a thousand pounds begins with a single burger.” – Chris O’Brien