McDonald's gets bids for store sales

By Reuters ( China Daily ) Updated: 2016-06-23 07:42:16

McDonald's Corp has received more than half a dozen bids for its planned sale of Chinese mainland and Hong Kong stores, including offers from Beijing Tourism Group, Sanpower Group and China National Chemical Corporation in a deal worth about $3 billion, people familiar with the matter said.

McDonald's is offering a 20-year master franchise agreement to buyers as part of the deal, but has placed restrictions that have discouraged some private equity firms from participating in the process, the people added.

Still, some global buyout firms including Bain Capital, TPG Capital and Carlyle Group have entered the auction with a view to team up with some of the Chinese strategic bidders, they added.

McDonald's gets bids for store sales

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