The deal to acquire investment firm Carlyle's (CG.O) 28% holding in the burger chain's China business, which also includes its stores in Hong Kong and Macau, will see McDonald's stake rise to 48%.
Since 2017, the number of McDonald's stores in China has doubled to 5,500 and the country has become its second-largest market.
McDonald's made an unsolicited offer for Carlyle's stake in the China operations in recent weeks and the deal was struck quickly, said the sources.
Reuters reported in August that Trustar Capital was planning to raise a continuation fund that would allow the Chinese private equity firm to sell down its stake in McDonald's China.
In contrast to McDonald's, U.S. meat and processed food maker Tyson Foods (TSN.N) plans to sell its China poultry business, sources have said.
Persons:
Benoit Tessier, Chris Kempczinski, McDonald's, Carlyle, Trustar, Jim Sanderson, Reckitt, Kane Wu, Granth, Deborah Sophia, Roxanne Liu, Edwina Gibbs
Organizations:
REUTERS, HK, CITIC, Trustar, Northcoast Research, Reuters, Tyson Foods, Primavera Capital, Thomson
Locations:
Bretigny, Paris, France, China, Hong Kong, Macau, CITIC, U.S, McDonald's China, British, Bengaluru, Beijing