McDonald's Sees Interest in China and Hong Kong Outlets
Shares of McDonald's were higher Friday on news that the fast food chain has reportedly received interest in its outlets in China and Hong Kong from private-equity backed groups
Shares of McDonald's (MCD) - Get Report were higher Friday on news that the fast food chain has reportedly received interest in its outlets in China and Hong Kong from private-equity backed groups. The Carlyle Group and TPG Capital have partnered with Chinese state conglomerate CITIC and Beijing Capital Agribusiness to make offers for the outlets in an effort to meet McDonald's desire for long-term partners rather than private equity firms, according to Reuters. McDonald's is selling about 2,800 restaurants in China, Hong Kong and South Korea. The deal could be worth between $2 billion and $3 billion.
Employees of TheStreet are restricted from trading individual securities.
