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Tuesday, 10 January 2017

McDonald's sells China and Hong Kong operations to Citic,Carlyle group for $2.08 billion


US fast-food giant McDonald has announced to sell its businesses in mainland China and Hong Kong for $2.08 billion to Citic, a state-owned conglomerate, and the Carlyle Group, a private equity firm. Citic Limited, Citic Capital Holdings, Carlyle Group and McDonald's will form a company that will act as the franchisee responsible for the chain's business in mainland China and Hong Kong for 20 years.

Citic and Citic Capital will have a stake of 52%, Carlyle will take 28%, and McDonald's will hold 20% of the new company.

So, let's discuss some questions related to this post:
Q1. Name the Countries, which has been announced by Mc Donald to sell its businesses for $2.08 billion, recently?
Ans1. China, Hong Kong

Source-The Indian Express


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