McDonald's will sell a business in China

McDonald's will sell 80% of its business in China and Hong Kong. It is reported by Associated Press.

Buyers will be the Citic Capital investment fund controlled by the Chinese government and the American private company The Carlyle Group. Citic will receive 52%, and Carlyle - 28% of the business. Another 20% will remain with McDonald's.

The main motive for the transaction in McDonald's named a change in business structure in the Asian region, which is carried out with the aim of rationalize global operations.

The transaction, which is supposed to be closed in the second quarter of 2017, has not yet received the approval of the regulators.

Now about 2.2 thousand McDonald's restaurants are operating on the territory of mainland China. In March 2016, the company announced the intention in the next five years to open another 1.5 thousand points in China, Hong Kong and South Korea.