(Adds further details on deal, background from paragraphs 2)
Oct 21 (Reuters) - China's state-owned CITIC Ltd
has agreed to sell its 19.23% stake in the company that operates fast-food chain McDonald's across China and Hong Kong for $430.3 million, fully exiting the business.
It will sell the stake in Fast Food Holdings to a unit of Chinese private equity firm Trustar Capital Partners, CITIC said in a statement.
Fast Food Holdings owns 52% of the holding company managing McDonald's businesses in mainland China and Hong Kong.
The divestment comes after four years, when a unit of CITIC had put up for sale a stake it held in Fast Food Holding, intending to raise about $312 million.
In 2017, McDonald's sold a majority stake in its China and Hong Kong operations to CITIC, its investment arm CITIC Capital, now known as Trustar, and Carlyle, in a deal valued at $2.1 billion at the time.
McDonald's in 2023 increased its stake in the Chinese business to 48% by buying Carlyle's 28% share, valuing the stake at $6 billion.
($1 = 7.1116 Chinese yuan renminbi)
(Reporting by Roshan Thomas in Bengaluru; Editing by Arun Koyyur and Devika Syamnath)
((Roshan.Thomas@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。