On October 21st, CITIC Capital Holdings Limited announced that its private equity investment business, Xinchen Capital, has signed an agreement with CITIC Group to acquire its shares in McDonald's Mainland China, Hong Kong, and Macau businesses (referred to as "McDonald's China"). After the transaction, the CITIC Capital consortium (including CITIC Capital and its private equity investment business, Xinchen Capital) remains the controlling shareholder of McDonald's China, holding a 52% stake.
McDonald's China responded to this: We are pleased to see that based on our firm optimism about the growth prospects of the Chinese economy and consumer market, as well as the development potential of McDonald's China, CITIC Capital's private equity investment business, Xinchen Capital, has increased its investment in McDonald's China. This transaction will further simplify our equity structure. Our development vision of "stronger, smarter, and better" to reach 10000 restaurants remains unchanged. With the support of our shareholders, we will continue to promote the future development of McDonald's China.