ChemChina, New Hope, considering China McDonald's franchise rights: sources

Hong Kong

CHINA National Chemical Corp and New Hope Group Co are among companies considering bids for McDonald's Corp operations in the world's most populous nation, people with knowledge of the matter said.

Buyout firm KKR & Co is considering teaming up with a Chinese firm to make a joint bid for the mainland China franchise rights, which could fetch about US$2 billion, the people said, asking not to be identified because the information is private. Potential suitors were asked to submit first-round offers by next week, they said.