Carlyle, TPG launch final bids for McDonald’s North Asia stores


 mcdonalds-904054_960_720Global private equity firms Carlyle Group and TPG Capital are reportedly in the final round of bidding for McDonald’s China and Hong Kong outlets.

Carlyle has joined with Chinese state conglomerate CITIC Group, while TPG has teamed up with mini-market operator Wumart Stores to launch their separate bids according to Reuters, which cited sources.

Real estate firm Sanpower Group also made an offer, with a potential deal for the business worth up to $3bn, the sources added.

Spokespeople for TPG, Carlyle, Wumart, CITIC, and Wumat did not respond to a request for comment.

In April, McDonald’s reportedly hired Morgan Stanley to run the sale of about 2,800 restaurants in China, Hong Kong and South Korea.

However, these final bids are only for the China and Hong Kong branches, which account for more than 85 per cent of the total.

The US fast food giant originally targeted the likes of Bain Capital, MBK Partners, TPG Capital Management, and Baring Private Equity Asia.

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