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McDonald's Sells China Business to CITIC, Carlyle for $2.1B

Jan 09, 2017 08:17 PM EST

Fast food guru McDonald's sold a great number of its market shares in China to two other firms, in a bid to expand its presence in the Chinese market. The deal that was announced on Monday was valued at $2.1 billion and highlighted Hong Kong's CITIC Capital and US Carlyle Group as the main investors.

McDonald's operation both in China and Hong Kong could be worth as much as $3 billion.

McDonald's Gets 3 Final Bids for China and Hong Kong Outlets

Ellie Froilan |

Sep 17, 2016 07:57 AM EDT

McDonald’s Corp has received three final bids from Carlyle Group (CG), Chinese state conglomerate CITIC Group, and TPG Capital for its China and Hong Kong outlets.

A sign stands outside of a McDonald's restaurant February 9, 2009 in San Francisco, California.

McDonald's to Continue Using Antibiotics-Treated Poultry in China

Charissa Echavez |

Aug 16, 2016 10:41 AM EDT

McDonald's has not committed to stop using antibiotics-treated poultry in China, after making a vow to ban the practice in the United States, raising concerns about double standards.

McDonald's Corp is targeting private equity firms for its planned sale of 2,800 North American restaurants.

McDonald's Targets Partnership with Private Equity Firms for Asian Expansion

Charissa Echavez |

Apr 17, 2016 06:32 AM EDT

McDonald's Corporation is targeting private equity firms such as MBK Partners, TPG Capital Management, Bain Capital and state-owned China Resources Holdings for its planned sale of 2,800 North Asia restaurants.

McDonald's Turns 25 in China; More Branches Allow Diners to 'Create Your Taste'

K.E. Pulumbarit |

Jul 02, 2015 05:26 AM EDT

McDonald's marks the 25th anniversary of its first venture in China by expanding its "Create Your Taste" service to more branches across the mainland.

McDonald's to Sell Taiwan Outlets in Favor of Franchising

Benjie Batanes |

Jun 26, 2015 08:02 AM EDT

McDonald's announced on Wednesday that it will sell all of its outlets in Taiwan. The fast-food chain noted that the move is meant to streamline its overseas operation and McDonald's has no intention of leaving the Taiwan market.

Food Scandals in Japan, China Hurt McDonald's Sales

Marcel Woo |

Mar 09, 2015 10:34 AM EDT

Fast-food-loving customers seemed to have turned their back on McDonald's last February as the burger company's global sales fell steeper than what was expected, thanks to food scandals in Japan and China.

McDonald’s To Begin Selling Full Menu Again in China

Kizha T. Trovillas |

Aug 04, 2014 03:09 PM EDT

McDonald's to China: Love us back

McDonald’s CEO Battered by Bad News In July

Kizha T. Trovillas |

Aug 04, 2014 04:45 AM EDT

Don Thompson is probably having the worst month of his career as McDonald’s Corp’s CEO.

Yum Brands, McDonald's China Supplier Shut Down, Faces Investigation

Marcel Woo |

Jul 21, 2014 04:35 AM EDT

OSI Group, the Illinois-based owner of Shanghai Husi Food, has confirmed that the Shanghai-based meat supplier of Yum Brands and McDonald's in China is under investigation.