January 9, 2017 / 4:42 AM / 7 months ago

BRIEF-Citic updates on acquisition of controlling interest in McDonald's Mainland China and HK businesses

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Jan 9 (Reuters) - Citic Ltd :

* deal for at a total consideration of up to us$2.080 billion

* acquisition of a controlling interest in Mcdonald's mainland china and hong kong businesses

* Purchaser entered into a sale and purchase agreement with, among others, mcdonald's china holdings limited and golden arches investments

* Citic's exposure to consideration payable for acquisition will only be up to us$665.6 million

* target group will be granted a master franchise to operate mcdonald's restaurants in mainland china and hong kong for a term of 20 years

* Existing management team of mcdonald's will remain in target group after closing of transaction Source text for Eikon: Further company coverage:

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