HONG KONG: McDonald's Corp has agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd and Carlyle Group LP for up to US$2.1 billion, seeking to expand rapidly without using much of its own capital. The 20-year ... ( read original story ...)
McDonald's sells China business in $2.1B deal
HONG KONG - Fast food giant McDonald's says it is selling a controlling stake in its China business to a group of investors led by state-owned Chinese conglomerate Citic in a deal worth up to $2.1 billion. The company said in a statement Monday that Citic ... ( read original story ...)
McDonald's sells China business in deal worth up to $2.1B
HONG KONG - Fast-food giant McDonald's is selling a controlling stake in its China business to a group of investors led by state-owned Chinese conglomerate Citic in a deal worth up to $2.1 billion, the companies said Monday. Citic Ltd. and its investment ... ( read original story ...)
McDonald's sells most of China, HK businesses to CITIC, Carlyle for $2.1 billion
Hong Kong-listed CITIC Ltd will own about 32 percent of the business, with CITIC Capital, an affiliate company that manages private equity funds and other alternative assets, holding another 20 percent. Carlyle will control 28 percent of the business ... ( read original story ...)
McDonald’s Corporation (MCD) Sells Control Of China, Hong Kong Business To Citic, Carlyle For $2.1B
McDonald’s has finalized a deal to sell a controlling stake in its operations in China and Hong Kong to a group of investors led by the Chinese state-backed Citic Limited. Under the terms of the deal announced Monday, the fast food giant will retain ... ( read original story ...)
McDonald’s to sell its Hong Kong and China operations for HK$16.14 billion
US fast-food giant McDonald’s will sell a controlling stake in its mainland China and Hong Kong franchise business to a consortium of Citic Group and the Carlyle Group for up to US$2.08 billion (HK$16.14 billion), the companies said Monday. Citic Limited ... ( read original story ...)
Hong Kong has no right to hold on to our troop carriers, Singapore says
SINGAPORE Singapore's defence minister said on Monday nine armoured vehicles seized in Hong Kong could not be detained or confiscated and that the city-state had repeatedly asked for their return. Hong Kong customs seized the troop carriers in November as ... ( read original story ...)
Hong Kong police warn pet owners after two dogs eat poisoned bait in notorious Bowen Road
A dog poisoner has struck again in a scenic area of Hong Kong where up to 200 animals have been targeted, many with fatal results, stretching back at least 25 years. Animal welfare workers and police warned people to be on the alert while walking their ... ( read original story ...)
Hong Kong and Taiwan lawmakers deny colluding over political independence at conference besieged by protests
Lawmakers from Hong Kong and Taiwan said their common ground was a desire for democracy and social justice, not “collusion for political independence” as Beijing had suggested. Hong Kong lawmakers Nathan Law Kwun-chung, Edward Yiu Chung-yim ... ( read original story ...)
Hong Kong's 'villain hitters' use sorcery to vent political anger
Want to curse Nigel Farage for leading the UK to Brexit? A group of sorcerers in Hong Kong have what you need, and a track record they say proves their success. Known locally as “villain hitters”, the group of mostly elderly women set up stall every ... ( read original story ...)
Shweta Rohira and her mother Kaajal had a blast in Hong Kong
Artist and entrepreneur Shweta Rohira and her mother Kajal Rohira recently went for a vacation to Hong Kong and the mother and daughter duo had a great time there. They stayed there for six days and gathered some very precious lifetime memories. ( read original story ...)
Hong Kong must target private cars to stop the city grinding to a halt
One of Hong Kong’s major competitive advantages over other Asian cities was that it was easy to get around and attend three or four business meetings a day. That is rapidly disappearing and we are becoming just another congested Asian city. The ... ( read original story ...)
After a horrible year, luxury fashion brands pin hopes on the return of Chinese consumers in 2017
Executives interviewed by McKinsey were pinning their hopes for a turnaround ... The consultancy estimated luxury goods sales in Hong Kong fell 15 per cent for the full year 2016. The drop can be partly explained by Hong Kong’s US-dollar linked currency ... ( read original story ...)
Hong Kong Monetary Authority implements measures to improve ethnic minority access to basic financial services
Concerns are growing that a “banking underclass” is emerging in Hong Kong due to the combined effects of racial discrimination and a system of redress so cumbersome that people have given up complaining. In a move to address the problem – which has ... ( read original story ...)