McDonald’s China, Now Owned By CITIC And Carlyle, Aims To Add 2,000 Restaurants In Five Years

News Source: China Money Network.

McDonald's Corporation's China business, now under new ownership of CITIC Ltd. and Carlyle Group, is planning to drive double-digit sales growth in each of the next five years and to increase the number of its restaurants to 4,500 from 2,500 currently.

Chinese financial services group CITIC Ltd. and its alternative investment unit CITIC Capital Holdings teamed up with the Carlyle Group in January to acquire McDonald’s mainland China and Hong Kong business for up to US$2.08 billion. The deal was completed today.

Upon completion, CITIC and CITIC Capital would have a controlling stake of 52% of McDonald's mainland China operations, with 2,500 restaurants, and Hong Kong unit, with 240 restaurants. Carlyle and McDonald’s would each own interests of 28% and 20%, respectively, according to previous disclosures.

Faced with a number of h...



This news article comes via China Money Network, who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network

You May Also Like