Citic to Sell 22% Stake in McDonald’s China for $300 Million
Citic to Sell 22% Stake in McDonald’s China for $300 Million 1(Bloomberg) — Chinese state-owned conglomerate Citic Ltd. is planning to significantly reduce its stake in McDonald’s China Co. more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement Wednesday that Citic is looking for buyers for a 22% stake, which …
News story posted on 2020-01-08T06:16:00.0000000Z