CITIC (HK:0267) has released an update.
CITIC Limited has announced the sale of its remaining 19.23% equity interest in Fast Food Holdings Limited, which holds a significant stake in McDonald’s operations in mainland China and Hong Kong, to Trustar Fast Food Holdings Limited for approximately $430.3 million. This strategic move aligns with CITIC’s business development goals and is expected to provide a good investment return without negatively impacting the company’s financial health. Investors are advised to stay cautious as the sale is subject to certain conditions.
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