Citic sells 19.23% McDonald's China, HK stake for $430.3m
The CITIC Capital consortium will hold 52% ownership in McDonald’s China.
CITIC Capital Holdings Limited has announced that through its private equity affiliate, Trustar Capital, it has entered into a share purchase agreement with CITIC Limited to acquire its equity interest in McDonald’s mainland China, Hong Kong, and Macau businesses (McDonald’s China) for $430.3m
“As the controlling shareholder of McDonald’s China, we are committed to elevating McDonald’s China to new heights and achieving our goal of opening over 10,000 stores,” said Yichen Zhang, CITIC Capital’s Chairman and CEO, Chairman of McDonald’s China.
Following the completion of the transaction, the CITIC Capital consortium will hold 52% ownership in McDonald’s China.
In 2017, CITIC Capital, CITIC Limited, Carlyle, and McDonald's Corporation has established partnerships.
CITIC Capital acquired 22% of McDonald's China's stake from CITIC Limited in early 2020, further expanding its ownership to 42%.
In 2023, McDonald's Corporation agreed to acquire Carlyle's minority ownership stake in McDonald's China, increasing its stake in McDonald’s China to 48%.
