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McDonald's sells control of China business to Citic, Carlyle

Published Mon, Jan 9, 2017 · 09:50 PM
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Hong Kong

MCDONALD'S Corp has entered into an agreement to sell 80 per cent of its operations in China and Hong Kong to a consortium including Citic Ltd and Carlyle Group LP.

The deal, which includes 20-year mass franchise rights, will value the business at as much as US$2.08 billion, Citic said in a statement to the Hong Kong exchange on Monday.

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