HONG KONG: McDonald’s Corp has received more than half a dozen bids for its planned sale of China and Hong Kong stores, including offers from Beijing Tourism Group, Sanpower and ChemChina in a deal worth about US$3bil, people familiar with the matter told Reuters.
McDonald’s is offering a 20-year master franchise agreement to buyers as part of the deal, but has placed restrictions which has discouraged some private equity firms from participating in the process, the people added.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!