Carlyle Consortium Nears Deal to Buy McDonald's China Franchise
06 12월 2016 - 9:20PM
Dow Jones News
A consortium including private-equity giant Carlyle Group LP is
close to a deal valued at as much as $2 billion to buy McDonald's
Corp.'s China franchise, giving the U.S. fast-food chain operator
cash and local help cracking the China market.
McDonald's is selling a roughly 80% stake in its China franchise
to the Carlyle consortium, which also includes Chinese state-owned
conglomerate Citic Ltd., the people said. The deal, which still
needs a final sign off from the McDonald's board could fetch the
fast-food operator an upfront payment of between $1.5 billion and
$2 billion, according to people familiar with the situation.
An announcement could be made as early as next week, the people
said.
A McDonald's spokesperson in China declined to comment.
The Oak Brook, Ill., chain will keep around a 20% stake in its
2,220-store empire in mainland China and Hong Kong, 65% of which it
owns and operates. The move would help McDonald's trim its overall
operational costs and preserve capital.
McDonald's would also rake in an estimated 5% to 7% of the China
franchise sales for 20 years.
McDonald's monthslong auction of its China franchise attracted
interest from private-equity firms TPG and Bain Capital LLC,
teaming up with local partners, and a handful of local players
bidding on their own.
Wayne Ma contributed to this article.
(END) Dow Jones Newswires
December 06, 2016 07:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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