(Hong Kong, 21 October 2024) CITIC Capital Holdings Limited announced that through its private equity affiliate, Trustar Capital, it has entered into a share purchase agreement with CITIC Limited to acquire its equity interest in McDonald’s mainland China, Hong Kong and Macau businesses (hereafter referred to as “McDonald’s China”). Upon completion of the transaction, the CITIC Capital consortium (including CITIC Capital and Trustar Capital) will remain McDonald’s China’s controlling shareholder and will continue to play a significant role in its operations going forward.
Since 2017, McDonald’s China has experienced rapid expansion and robust development, marking a significant milestone for us. Driven by strong optimism about the growth prospects of the Chinese economy and consumer market, as well as the development potential of McDonald’s China, the CITIC Capital consortium has increased its investment.
Yichen ZHANG, CITIC Capital’s Chairman and CEO, Chairman of McDonald’s China, said: “As the controlling shareholder of McDonald’s China, we are committed to elevating McDonald’s China to new heights and achieving our goal of opening over 10,000 stores. Over the years, we have collaborated closely with CITIC Limited to facilitate McDonald’s China’s rapid growth and have achieved remarkable results in terms of business expansion, sustainable development and strong recognition from investors and consumers. We look forward to continuing the business collaboration with CITIC Limited in the future and jointly promote the high-quality development of China’s economy and consumer market.”
For details of the transaction, please refer to the official announcement of CITIC Limited: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1021/2024102100405.pdf
About CITIC Capital and McDonald’s China
In 2017, CITIC Capital, CITIC Limited, Carlyle, and McDonald’s Corporation established a strategic partnership. Driven by strong conviction about the growth prospects of McDonald’s China, CITIC Capital acquired 22% of McDonald’s China’s stake from CITIC Limited in early 2020, further expanding its ownership to 42%. CITIC Capital has taken a series of measures to promote the local development of McDonald’s China by accelerating store openings, digital empowerment, and localization of the supply chain, which significantly improved McDonald’s China’s operational capabilities and financial performance. In 2023, McDonald’s Corporation agreed to acquire Carlyle’s minority ownership stake in McDonald’s China, increasing its stake in McDonald’s China to 48%. In 2024, the CITIC Capital consortium announced its plan to increase its investment in McDonald’s China. Following the completion of the transaction, the CITIC Capital consortium will hold 52% ownership in McDonald’s China.
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