A McDonald's employee hands out food as she waits on customers at their drive-thru facility on Jan. 19, 2007 in Beijing, China.
Guang Niu/Getty Images
By Reuters
January 9, 2017

Citic Ltd and Carlyle Group LP (cg) would buy a majority interest in McDonald’s (mcd) mainland China and Hong Kong businesses for $2.08 billion, the companies said.

Citic Ltd and Citic Capital will have a stake of 52%, while Carlyle and McDonald’s will own 28% and 20%, respectively in the businesses.

For more on the latest on McDonald’s, watch Fortune’s video:

Reuters reported in December that McDonald’s was looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores.


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