HALISTER: McDonald’s Said to Sign Deal Today to Sell $2b China Franchise

McDonald’s Said to Sign Deal Today to Sell $2b China Franchise

(Bloomberg) -- McDonald’s Corp. plans to sign an agreement as soon as today to sell 80% of its operations in China and Hong Kong to a consortium of Carlyle and Citic Group, people with knowledge of the matter said.
  • Deal, which includes 20-year franchise rights, values the business at about ~$2b including debt, said the people, who asked not to be identified because the information is private
  • McDonald’s will retain 20% stake in China business: people
  • Deal could be announced this week: people
  • A Shanghai-based spokeswoman for McDonald’s didn’t immediately answer a phone call and an e-mail seeking comment
  • Representatives for Carlyle, Citic declined to comment
  • NOTE: TPG Said to Exit Race for $2 Billion McDonald’s China Rights
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MCD US (McDonald's Corp)
CITIC CH (CITIC Group Corp)
267 HK (CITIC Ltd)
CG US (Carlyle Group LP/The)

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