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发帖数: 372 | 1 http://www.bbc.co.uk/news/business-38552276
McDonald's agrees China franchise sale
1 hour ago
From the section Business
McDonald's has agreed to sell 80% of its business in China and Hong Kong, as
part of plans to franchise more of its restaurants worldwide.
China's state-owned investment group Citic, and US private equity firm
Carlyle Group, will take control of the operations in a deal valued at $2.
1bn (￡1.7bn).
McDonald's owns and operates about 65% of its 2,000 China outlets.
Franchising allows it to take a slice of sales while cutting operating costs.
McDonald's is trying to streamline its global operations, and changing its
ownership structure to revolve more around franchises is a major part of
that revamp.
In March last year, the firm said it was seeking partners to help it add
more than 1,500 restaurants in China, Hong Kong and Korea over the next five
years.
Under the agreement signed Monday, the US fast food giant will keep a 20%
stake in its China business. Citic will hold a 52% share in the partnership
while Caryle takes 28% of the new business.
Competitor Yum Brands, the owner of KFC and Pizza Hut, is also restructuring
its China business.
Both McDonald's and Yum Brands have been facing increasing competition from
cheaper local rivals, particularly in China, where they are trying to
recover from food safety scares. |
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