McDonald's Increases Its Stake in China Operations

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Mcdonald's is increasing its stake in its business in China. The fast food giant sold off control of its restaurants in China in 2017 to both C and Carlyle while holding on 20% of the business. Well, now the company has purchased Carlyle's shares of operations, bringing mcdonald's ownership of its Chinese operations to 48%. The financial terms of the deal have not been disclosed but it is expected to close in the first quarter of 2024 if it gets regulatory approval since 2017. Mcdonald's has doubled its footprint in China, making the company's second largest market by number of locations.