Citic to Divest $430 Million Stake in McDonald’s Greater China Operator, Anticipates No Adverse Impact on Operations or Finances

Citic is planning to offload its shares in the company that operates McDonald's in Greater China for a sum of US$430 million. Citic assures that this transaction will not negatively affect its business performance or financial standing.

Citic, a company listed in Hong Kong, announced that it plans to offload its 19.23% share in Fast Food Holdings. The buyer is Trustar Capital Partners, a private equity division of its associate company, as per the statement they filed with the stock exchange on Monday.

Citic stated that the disposal aligns with the company's growth strategy and offers a favorable return on investment. They also mentioned that they don't foresee the sale negatively affecting their operations or financial standing.

Citic Capital announced on Monday that, after the most recent transaction is finalized, it and its private equity partner Trustar will hold a 52% stake in Fast Food Holdings.

The Citic Capital consortium has boosted its investment, fueled by a positive outlook on the expansion possibilities of the Chinese economy and consumer market, along with the anticipated growth of McDonald's China, according to a statement from the firm.