Final bids in for McDonald’s China business
Final bids are in from at least three groups bidding for the McDonald’s China and Hong Kong business.
McDonald’s is reorganising its business in Asia, bringing in partners as it switches to a less capital-intensive franchise model.
There is no confirmation that McDonald’s’ current China partner, Beijing Capital Agribusiness Group, in tandem with China Cinda Asset Management Co, had made a final offer when bidding closed his week.
Meanwhile Yum Brands, which runs the KFC, Pizza Hut and Taco Bell brands, has agreed to sell a $460 million stake in its China unit to investment firm Primavera Capital and an affiliate of Alibaba Group.