McDonald's to up stake to 48% in nation, mulls more restaurants

Fast-food giant McDonald's Corp is increasing its minority stake substantially in its business in China to facilitate faster decision-making and exploit growth opportunities in its fastest-growing market.

McDonald's on Monday agreed to raise its stake from 20 percent to 48 percent. It will buy additional shares from global investment firm and its strategic partner Carlyle, which operates and manages McDonald's business in the Chinese mainland, Hong Kong and Macao.

Upon completion of the McDonald's-Carlyle transaction, the CITIC consortium will continue to own 52 percent. Post regulatory approvals, the deal is expected to close in the first quarter of 2024.