McDonald's will increases its stake in its China business to 48%
to acquire investment firm Carlyle's 28% holding in the burger chain's China business, which also includes its stores in Hong Kong and Macau, will see McDonald's stake rise to 48%.
a group led by state-backed conglomerate CITIC has controlling ownership, a 52% stake
"We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest growing market's long-term potential," McDonald's CEO Chris Kempczinski said in a statement on Monday.
Info comes via Reuters, link for more.
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The move comes as many other multinational corporations scale back investments in China due to geopolitical and economic challenges.
