CITIC, Carlyle acquire majority stake in McDonald's China, HK biz for $2.08b

CITIC, Carlyle acquire majority stake in McDonald's China, HK biz for $2.08b

People walk past the entrance to a McDonald's restaurant in Shanghai, China, July 30, 2015. BRANDS/MCDONALDS REUTERS/Aly Song

Chinese financial services group CITIC Ltd, and its alternative investment unit CITIC Capital Holdings along with global private equity firm Carlyle Group are set to acquire fast food giant McDonald’s business in mainland China and Hong Kong for up to $2.08 billion.

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