McDonald’s Corp has received more than half a dozen bids for its planned sale of Chinese mainland and Hong Kong stores, including offers from Beijing Tourism Group, Sanpower Group and China National Chemical Corporation in a deal worth about $3 billion, people familiar with the matter said. McDonald’s is offering a 20-year master franchise agreement to buyers as part of the deal, but has placed restrictions that have discouraged some private equity firms from participating in the process, the people added…Full Article: ECNS.cn June 2016
- Potential bidders include Bain Capital, TPG Capital, Carlyle Group, Beijing Capital Agribusiness Group, and GreenTree Hospitality.
- In April 2015, McDonald’s announced it would close dozens of its restaurants in mainland China. As of mid-2015, McDonald’s China had more than 2,000 restaurants.
- In November 2014, McDonald’s China’s supply chain came under increased scrutiny after the US Department of Agriculture approved a genetically modified (GM) potato developed by J.R. Simplot, a McDonald’s supplier.
- In August 2014, McDonald’s in Hong Kong stopped selling fresh corn cups, green salad and fresh lemon tea as these items were primarily sourced from OSI processors in Hebei and Gaungzhou.
- In July 2014, Shanghai Husi, a division of US-based OSI Group LLC, was found to have sold expired meat to McDonald’s, Pizza Hut, Papa John’s, Seven-Eleven and FamilyMart (Japan-based convenience store).
- Founded in 2009 and headquartered in Beijing, Beijing Capital Agribusiness Group is a conglomeration of Beijing Sanyuan Group (Dairy), Beijing Huadu Group (Poultry), and Beijing Dafa Livestock. Beijing Sanyuan (SHA:600429) is its only publicly traded company in the group and was the only major dairy that was not implicated in the 2008 melamine scandal.