McDonald's Sells Most Of China, Hong Kong Businesses For $2.1 Billion

Hong Kong: McDonald's Corp has agreed to sell a majority stake in its China and Hong Kong businesses to state-backed conglomerate CITIC Ltd and Carlyle Group LP for up to $2.1 billion, part of its efforts to switch to a less capital-intensive business model.  The deal caps months of negotiations between the fast-food chain, private equity firms including Carlyle and TPG Capital Management LP as well as several Chinese suitors.  McD...