McDonald’s is offloading all of its 23 shops across Hong Kong, with an estimated total market value of HK$3 billion ($382 million), Hong Kong Economic Times reports, citing unidentified people.
- Assets will be sold in phases, with the first batch comprising 8 shops in prime business locations including Tsim Sha Tsui, Causeway Bay, and Mong Kok, valued at about HK$1.3 billion
- McDonald’s
sold the 20-year mass franchise rights to in China and Hong Kong to a consortium of Citi Group and Carlyle in 2017, while retaining property ownership
To contact the reporter on this story:
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.