McDonald’s Said to Sign Deal Today to Sell $2b China Franchise
Source: BFW (Bloomberg First Word)
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(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.
Alert: HALISTER- 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
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)
To de-activate this alert, click here
UUID: 7947283