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Jan. 11, 2017

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CITIC Acquires McDonald's China Business Collaboration with US Investment Fund Carlyle Group

China's state-owned compound company, China CITIC Group announced on 9th that it will acquire McDonald's China business in collaboration with the Carlyle Group of US investment funds. The acquisition amount is 2,080 million dollars (about 240 billion yen), CITIC is the financial industry such as banks and securities. In the future, they will shift management resources to consumption related fields where growth is expected due to expansion of the middle class.

They acquire McDonald's Chinese subsidiary and have the right to operate a franchise store in Hong Kong for 20 years.