McDon­ald’s to keep mi­nor­ity stake

China Daily (Hong Kong) - - BUSINESS -

McDon­ald’s Corp is look­ing to raise $1 bil­lion to $2 bil­lion with the sale of its Chi­nese main­land and Hong Kong stores af­ter the US fast-food chain de­cided to keep “a sig­nif­i­cant mi­nor­ity stake in the busi­ness”, a per­son with di­rect knowl­edge of the plans said on Tues­day. The com­pany has picked a con­sor­tium led by pri­vate-eq­uity firm Car­lyle Group LP and Chi­nese con­glom­er­ate CITIC Group Corp to buy the stores and its de­ci­sion to re­tain the mi­nor­ity stake low­ered the price tag for the busi­ness from up to $3 bil­lion ex­pected pre­vi­ously, said the per­son, who de­clined to be iden­ti­fied be­cause de­tails of the deal are not pub­lic. McDon­ald’s wants ex­po­sure to fu­ture growth in the world’s sec­ond-largest econ­omy which is why it de­cided to main­tain the stake, the per­son said. to de­velop the field.

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