Reuters reported yesterday that according to insiders McDonald’s has received bids for its Mainland China and Hong Kong stores in an auction that could earn the company almost $3 billion. At least six companies have shown interest in purchasing the stores, including Beijing Tourism Group, Sanpower, and ChemChina.
McDonald’s is offering a 20-year master franchise agreement for buyers.
Firms including Bain Capital, TPG Capital, and Carlyle Group are bidding in the auction and hope to team up with Chinese buyers.
Beijing Capital Agribusiness Group, McDonald’s current Chinese partner, was also preparing to make a bid. GreenTreeHospitality was reportedly preparing one is well. It is not known if the two companies each decided to move forward.
McDonald’s has hired Morgan Stanley to sell about 2,800 restaurants in China, Hong Kong, and South Korea. The fast food giant is also selling stores in South Korea in a separate auction.
See also: inews.qq.com
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Keywords: McDonald’s China McDonald’s Hong Kong McDonald’s
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