McDonald’s Sells China Operations

2019 ias preliminary exam test series

Fast-food giant McDonald’s of USA will sell its mainland China and Hong Kong franchise business to a consortium of Citic Group and the Carlyle Group for up to USD 2.08 billion.

Citic and Citic Capital will have a controlling stake of 52 per cent, Carlyle will have 28 per cent, and McDonald’s will hold 20 per cent of the new company.

Citic Limited, Citic Capital Holdings, Carlyle Group and McDonald’s will form a company that will act as the franchisee responsible for the chain’s business in mainland China and Hong Kong for 20 years.

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