January 8, 2020 / 5:34 AM / 18 days ago

China's CITIC to sell 42.3% stake in McDonald's China operations -filing

Jan 8 (Reuters) - China’s state-owned conglomerate CITIC Group has put up for sale its 42.3% stake in Fast Food Holdings Ltd, a company that controls the China operations of McDonald’s Corp, a filing to the China Beijing Equity Exchange showed.

The filing said CITIC plans to raise at least 2.17 billion yuan ($312 million) through the sale.

$1 = 6.9443 yuan Reporting by Twinnie Siu in Hong Kong and Se Young Lee in Beijing; Editing by Tom Hogue

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