CITIC plans to sell its majority stake in McDonald’s

CITIC (00267) plans to sell about two-thirds of its stake in McDonald’s China, which is 22% stake for a minimum of 2.17 Billion RMB (US$ 313 million). The deal will reduce CITIC’s share in McDonald’s China to 10%. CITIC and its partner Carlyle Group jointly acquired the issued share McDonald’s China for $2.08 billion.

News Source: http://www.ce.cn/cysc/sp/info/202001/09/t20200109_34087609.shtml