trending Market Intelligence /marketintelligence/en/news-insights/trending/OMyuSenDdl5xziYsPXwbxA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

CITIC to sell 22% stake in McDonald's China

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


CITIC to sell 22% stake in McDonald's China

Chinese state-backed conglomerate CITIC Group Corp. plans to sell a 22% stake in McDonald's Corp.'s China and Hong Kong business to its private equity arm, Reuters reported Jan. 8.

CITIC hopes to make at least 2.17 billion yuan from the sale, the report said, citing a filing to the China Beijing Equity Exchange.

The sale to CITIC Capital Partners is expected to be finalized by early February. CITIC Group reportedly said it was a purely "commercial decision" that will continue to help develop McDonald's business in China.

In 2017, McDonald's sold 80% of its China and Hong Kong operations to CITIC Group, CITIC Capital and U.S. private equity firm Carlyle Group LP for $2.08 billion, according to the report. After the deal, CITIC Group held 32% of the business, Carlyle 28% and CITIC Capital 20%.

As of Jan. 7, US$1 was equivalent to 6.94 Chinese yuan.