HALISTER: McDonald’s Gets Half Dozen Bids for China, H.K. Sale: Reuters

McDonald’s Gets Half Dozen Bids for China, H.K. Sale: Reuters

(Bloomberg) -- McDonald’s gets bids from Beijing Tourism Group, Sanpower, ChemChina for planned sale of China and H.K. stores, Reuters says citing unidentified people familiar.
  • Planned deal may be worth ~$3b
  • MCD offering 20-yr master franchise agreement to buyers with restrictions
    • Bain Capital, TPG Capital, and Carlyle Group entered auction with view to partner with some Chinese strategic bidders
  • Other bidders preparing first-round bids ahead of Monday deadline incl. Beijing Capital Agribusiness Group, GreenTree Hospitality
  • MCD says “making progress as we look for long-term strategic partners with local relevance": Reuters
    • ChemChina, Sanpower officials not available to comment immediately
    • Beijing Tourism Group says it did not know about the matter
    • Beijing Capital Agribusiness says didn’t participate in bidding; GreenTree says not bidding currently
    • Bain, Carlyle, TPG declined to comment
  • NOTE: ChemChina, New Hope Said to Weigh McDonald’s Franchise Bids
    • McDonald’s Seeks PE Firms in Sale of North Asia Stores: Reuters
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MCD US (McDonald's Corp)
6821Z US (Bain Capital Private Equity LP)
CG US (Carlyle Group LP/The)
CHNCCZ CH (China National Chemical Corp)
8818Z US (TPG Capital Management LP)

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