China: CITIC to acquire 16% in Sunlon for $291m, deal to focus on McDonald's biz

China: CITIC to acquire 16% in Sunlon for $291m, deal to focus on McDonald's biz

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

China state-owned financial services firm CITIC Group will acquire 16 per cent stake in Beijing Capital Agribusiness Group (Sunlon) which has a long standing relationship with McDonald’s business in China.

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