McDonald`s Corp sold  its China and Hong Kong stores

McDonald`s Corp sold its China and Hong Kong stores

By: Oliver Miller | Where To Trade | On:Tuesday, 06 December 2016
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   McDonald's Corp decided to sale its China and Hong Kong stores to raise 1 billion dollars to 2 billion dollars. The U.S. fast-food chain decided to do that in order to "keep a significant minority stake in the business", according to a person that has acces to McDonald's plans. 

Carlyle Group and CITIC Group Corp in China were the companies that bought the McDonald's stores. The fast-food chain decided to retain a stake up to 25% lower form the price tag for business that are up to 3 billion dollars. 

According to the person that has access to McDonald's plans, the fast-food company decided to maintain the stake because it wishes future growth and exposure to this growth. 

After the declaration, McDonald's spokesmen in Shanghai refused to comment. CITIC and Carlyle both refused to make any comments. 
In March, McDonald's declared that it's looking for strategic partners in China, South Korea and Hong Kong, and it will try a less capital-intensive franchise model.

Offering 20-year franchise to buyers that can be extended 10-year longer, McDonald's has more than 2,800 restaurants in the three markets. 

Oddly enough, the sales come after scandals in China with both McDonald's and Yum Brands Inc, on undermined performances. 

Yum Brands is known for Pizza Hut, KFC and Tacco Bell and previously sold $460 million stake in its China unit to Primavera Capital and Alibaba Group Holding. 

 

Oliver Miller

Oliver Miller

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