McDonald's agrees to acquire a small number of equity held by Corey in a partnership, but has not disclosed the acquisition price.This partnership operates McDonald's business in mainland China, Hong Kong and Macau.
According to Bloomberg report, a press release issued on Monday (November 20) stated that as part of the transaction, McDonald's headquarters in Chicago will increase its shareholding in a partnership from 20%To 48%.CITIC Consortium continues to hold 52%of the partnership.
The press release states that China has developed into McDonald's second largest market. Since 2017, McDonald's stores in China have doubled to more than 5,500.10,000.
Chris Kempczinski, CEO of McDonald's, said in the press release: "Considering the huge opportunity for demand growth, we think it is the best time to simplify the structure."
This transaction needs to be approved by the regulatory authorities, and it is expected to be completed in the first quarter of 2024.
