{"id":5284,"date":"2017-01-09T19:53:44","date_gmt":"2017-01-09T19:53:44","guid":{"rendered":"http:\/\/www.banglanewsus.com\/english\/?p=5284"},"modified":"2017-01-09T19:53:44","modified_gmt":"2017-01-09T19:53:44","slug":"mcdonalds-logo-mcdonalds-gives-up-control-of-its-china-business-in-2-billion-deal-0","status":"publish","type":"post","link":"https:\/\/www.banglanewsus.com\/english\/2017\/01\/09\/mcdonalds-logo-mcdonalds-gives-up-control-of-its-china-business-in-2-billion-deal-0\/","title":{"rendered":"McDonald’s logo McDonald\u2019s gives up control of its China business in $2 billion deal 0"},"content":{"rendered":"

\"mcdonalds-logo\"<\/a>McDonald\u2019s is selling off most of its China business in a deal worth as much as $2.1 billion.Citic, a massive Chinese financial firm, is taking the majority stake in McDonald\u2019s (MCD) operations in mainland China and Hong Kong.U.S. private equity giant The Carlyle Group, is also buying into the investment combo, taking a 28% stake. McDonald\u2019s will hold the remaining 20% of the business. McDonald\u2019s CEO Steve Easterbrook said the fast food company\u2019s new partners would bring a better understanding of the Chinese market. The deal is the latest move in Easterbrook\u2019s efforts to overhaul the global burger chain.<\/p>\n

In the U.S., it has launched more customized sandwiches with fancier ingredients, introduced all-day breakfast to the menu and brought in touch screens and table service.Customers in China could also see changes soon. McDonald\u2019s says \u201cmenu innovation\u201d and using digital technology are priorities for the new Chinese business.Bringing in Citic and Carlyle doesn\u2019t mean the McDonald\u2019s brand is pulling back in China, where the economy is slowing down after decades of rapid growth.The partners say they\u2019re aiming to open more than 1,500 new restaurants in China and Hong Kong over the next five years, with a focus on bringing the golden arches to smaller Chinese cities. McDonald\u2019s aim is to drastically reduce the number of stores it owns in favor of franchises. The China deal will enable it to slash its company-owned stores by 1,750.McDonald\u2019s announcement follows Yum Brands\u2019 spinoff of its China division late last year. The decision by the KFC parent came after pressure from activist shareholders.Both big U.S. fast food companies had suffered in China in recent years after food safety scandals. McDonald\u2019s and Yum (YUM) reported improving results at their Chinese businesses last year until they were hit by anti-U.S. protests in July.
\nsource:CNN<\/p>\n","protected":false},"excerpt":{"rendered":"

McDonald’s is selling off most of its China business in a deal worth as much as $2.1 billion.Citic, a massive Chinese financial firm, is taking the majority stake in McDonald’s (MCD) operations in mainland China and Hong Kong.U.S. private equity giant The Carlyle Group, is also buying into the investment combo, taking a 28% stake. McDonald’s will hold the remaining 20% of the business. McDonald’s CEO Steve Easterbrook said the fast food company’s new partners would bring a better understanding of the Chinese market. The deal is the latest move<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[30],"tags":[],"_links":{"self":[{"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/posts\/5284"}],"collection":[{"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/comments?post=5284"}],"version-history":[{"count":1,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/posts\/5284\/revisions"}],"predecessor-version":[{"id":5286,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/posts\/5284\/revisions\/5286"}],"wp:attachment":[{"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/media?parent=5284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/categories?post=5284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.banglanewsus.com\/english\/wp-json\/wp\/v2\/tags?post=5284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}