CITIC to sell stake in McDonald's China, HK operations

CITIC to sell stake in McDonald's China, HK operations for $430.3 million
China's state-owned CITIC Ltd has agreed to sell its 19.23% stake in the company that operates fast-food chain McDonald's across China and Hong Kong for $430.3 million, fully exiting the business. It will sell the stake in Fast Food Holdings to a unit of Chinese private equity firm Trustar Capital Partners,
CITIC to Sell Stake in McDonald's China, Hong Kong Business for $430.3 Million
(Reuters) - China's state-owned CITIC Ltd has agreed to sell its 19.23% stake in Fast Food Holdings, the company behind McDonald's China and Hong Kong operations, to Trustar Fast Food Holdings for $430.3 million.
CITIC to sell 19.23% stake in FFHL to Trustar
In 2017, CITIC, along with CITIC Capital (now Trustar) and Carlyle, acquired a majority stake in McDonald's China and Hong Kong operations for $2.1bn. McDonald's increased its stake to 48% in 2023 by purchasing Carlyle's 28% share, valuing the business at $6bn, as reported by Reuters.
CITIC to sell stake in McDonald's China, HK operations for $430.3 mln
China's state-owned CITIC Ltd has agreed to sell its 19.23% stake in the company that operates fast-food chain McDonald's across China and Hong Kong for $430.3 million, fully exiting the business.
CITIC Sells Stake in McDonald’s China and Hong Kong
CITIC (HK:0267) has released an update. CITIC Limited has announced the sale of its remaining 19.23% equity interest in Fast Food Holdings
Citic to sell its stake in company behind McDonald’s in Greater China for US$430 million
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