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A consortium led by private-equity firm Carlyle Group and Chinese conglomerate Citic Group Corp has neared a deal to buy McDonald’s stores in China and Hong Kong for up to $3 billion, a source with direct knowledge of the matter said. The deal is likely to be…
And in the simultaneous divestment process for the 20-year McDonald’s China franchise rights, TPG Capital has reportedly withdrawn leaving two rival private equity firms in the race – Bain Capital and Carlyle Group – competing with two Chinese companies…
Gearing up for a McDonald’s social media blitz, the fast food giant has recruited 200 staff from tech-savvy online companies. The new recruits have come from companies such as Amazon and PayPal and are stationed in the McDonald’s head office in Oakbrook…
Twenty-year franchise rights for McDonald’s Malaysia and Singapore outlets have been conditionally sold to a Saudi Arabian group for up to US$400 million. Reza Food Services, which owns McDonald’s restaurants in Saudi Arabia, is seeking finance from Malaysian…
Despite shortlisting several bidders for the McDonald’s Singapore and McDonald’s Malaysia franchise rights, Malaysian subsidiary Golden Arches Restaurants says it is not in a hurry to sell. MD Azmir Jaafar says the deal is being discussed with the shortlisted…
McDonald’s Corp. Chief Executive Steve Easterbrook, aiming to slim down the Golden Arches and boost profit, has turned to the market where he can do something big, fast: China. The Oak Brook, Ill., chain is looking to cut a deal to turn its 2,200-store empire…
The McDonald’s Philippines network is set to nearly double by 2020. Parent Alliance Global Group (AGI) says it will reach 500 outlets by the end of 2016 – and it plans to open another 400 restaurants between 2017 and 2020. The plan was revealed during a…
US Chinese fast-food chain Panda Express, a staple of mall food courts in California, is about to launch in Japan. It will be in the hands of I&P Runway Japan, a joint entity set up last year between Panda Express owner Panda Restaurant Group and Chikara no…
CJ Group says it has withdrawn from the bidding process for franchise rights for McDonald’s Korea. The Korean multinational gave no reason for its loss of interest. McDonald’s US is seeking buyers for 20 year franchise rights for its business in China, Hong…
Beijing-based retail giant WuMart has filed a bid to take over McDonald’s operations in both the mainland and Hong Kong, according to a report from Caixin.com. Someone familiar with the case revealed that Wumart’s bid is being backed by TPG capital, one of…
Franchise rights for 20 years for McDonald’s Singapore and Malaysia could fetch S$542.8 million (US$400 million). The rights have been put on the market as part of McDonald’s Corp’s international turnaround plan put in place by new CEO Steve Easterbrook last…
Involving a celebrity with the Pokemon Go obsession may seem like a golden marketing opportunity, but for one Hong Kong shopping mall the combination has been a screw-up. With the game not yet officially available in Hong Kong, actress Chrissie Chau claimed…
Apple Pay has arrived in Hong Kong, allowing the Apple users to use the company’s mobile payment system. Apple’s payment system has been rolled out to American Express, Visa and MasterCard cardholders in Hong Kong. Other participating banks are Standard…
Local franchisee, Golden Arches Development, expects McDonald’s Philippines to reach 500 stores in 2016 and 900 in coming years. Golden Arches VP for marketing Margot Torres said in an interview, “We are going to hit the 500 stores before the end of the year…
McDonald’s Corporation says it is struggling to attract the calibre of bidders it envisioned when it put its China and Hong Kong franchise up for tender. The restaurant group is offering a 20-year master franchisees for its markets in China, Hong Kong and…
In partnership with creative agency DDB and Tribal Hong Kong, McDonald’s Hong Kong has opened a concept store in Taikoo Shing. Featuring more than 1000 of the family restaurant’s toys dating back to 1980, the interactive McDonald’s Toy Museum at City Plaza…
