McDonald’s Agrees to Sale of Chinese Business
January 10, 2017
Oak Brook, Ill.-based burger giant McDonald’s has agreed to sell 80 percent of its business in China and Hong Kong. The sale was made to China’s state-owned investment group Citic and U.S.-based private equity firm Carlyle Group as part of the brand’s efforts to franchise more of its international locations. McDonald’s currently owns and operates 65 percent of its 2,000 Chinese outposts.
The agreement allows the fast food company to maintain a 20-percent stake in its Chinese business, while Citic will receive a 52-percent share in the partnership. Carlyle Group will take 28 percent of new business, according to bbc.com.
McDonald’s currently oversees more than 36,000 locations worldwide.
The Home Depot Plans Rollout of Rooftop Solar Powers
August 18, 2017 • Retail
Atlanta-based hardware retailer The Home Depot has revealed plans to install solar panels atop 50 locations.
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