McDonald’s sells off over 2,000 outlets in China, HK
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….
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