McDonald's to Buy Carlyle's Stake in McDonald's China
November 20 2023 - 9:17AM
Dow Jones News
By Colin Kellaher
McDonald's is raising its stake in McDonald's China to 48% from
20% by buying investment-firm Carlyle's 28% interest in the
partnership.
McDonald's on Monday said the Citic Consortium will maintain its
52% controlling ownership stake in the partnership, which operates
and manages the fast-food chain's business in mainland China, Hong
Kong and Macau.
McDonald's didn't disclose terms of the deal, which the Oak
Brook, Ill., company expects to complete in the first quarter of
2024.
McDonald's sold an 80% stake in its China operations to Citic
and Carlyle in a 2017 deal that valued the business at more than $2
billion.
China is now the fast-food chain's second largest-market, with
its restaurants doubling to more than 5,500 since 2017.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 20, 2023 09:02 ET (14:02 GMT)
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