McDonald’s said on Monday it would acquire investment firm Carlyle’s 28% stake in a partnership that manages its business in mainland China, Hong Kong and Macau, as the burger chain looks to simplify its structure in the region, reports Reuters. The deal will help McDonald’s raise its holdings to 48%, while a consortium led by state-backed conglomerate CITIC will maintain its controlling ownership with a 52% stake in the business.
Reuters reported in April that Carlyle was discussing various options with financial advisers for its stake in McDonald’s China, including setting up a continuation fund for the asset.
There was “no better time to simplify our structure” given the benefits of China’s long-term potential, McDonald’s CEO Chris Kempczinski said.
