CITIC plans to sell McDonald's Chinese equity to CITIC Capital Capital Capital, which means that CITIC Capital will become the largest controlling shareholder of McDonald's China.
Comprehensive Southern Metropolis Daily China Fund reported that CITIC Co., Ltd. was announced on Monday (October 21) that it intends to sell the McDonald's mainland and Hong Kong business (McDonald's China), which is intended to be a subsidiary of CITIC Capital (McDonald's China).The company's company, namely Fast Food Holdings Limited, involved $ 430.3 million (S $ 566 million).
According to the transaction announcement, Xinyu Capital will bear a loan of about 74 million US dollars worthless.
The CITIC consortium containing CITIC and CITIC Capital previously held 52%of the shares in McDonald's China.After the transaction was completed, McDonald's China's equity was further simplified, and CITIC Capital and its Xinyu Capital still held 52%of the shares.
CITIC pointed out that this transaction is due to the Group's business development strategy and in line with the interests of development. It is expected that this sale will not have any major adverse effects on the group's operations and financial conditions.
In response to the changes in equity, CITIC Capital said that based on its firm confidence in the prospects of China's economy and consumer market, and the continuous optimistic about McDonald's China's future development potential, CITIC Capital decided to continue McDonald's China.
The relevant person in charge of McDonald's China said: "The transaction will further simplify our equity structure. We 'more powerful, smarter, and more beautiful' reaching the development vision of 10,000 restaurants remain unchanged, and in shareholders 'shareholders'.With support, we will continue to promote the future development of McDonald's China.The money of the shares was replaced and the funds of CITIC shares were released, but McDonald's China's equity control structure has not changed.
