Posted on 01/09/2017 7:39:49 AM PST by BenLurkin
CHINESE state conglomerate CITIC Group and its investment subsidiary and US private equity firm Carlyle Group have announced they will acquire a majority stake in a new company that runs McDonald's outlets in China's mainland and Hong Kong in a deal involving a total payment of up to US$2.08 billion by the consortium.
The new company will act as a master franchisee to operate about 1,750 stores in China's mainland and Hong Kong for the next 20 years.
CITIC Group and CITIC Capital will hold a combined 52 percent stake in the new company with Carlyle Group holding 28 percent and McDonald’s Corporation having the rest 20 percent.
The deal is contingent upon relevant regulatory approvals and is expected to close in mid-2017.
McDonald's China said it intends to add over 1,500 restaurants in China and Hong Kong over the next five years, with focus on key areas such as menu innovation, enhanced restaurant convenience, retail digital leadership and delivery.
(Excerpt) Read more at shanghaidaily.com ...
They are going to stop using cats and switch to corrugated cardboard in their burgers.
Cats and corrugated cardboard would be better than the crap they use to make their US hamburgers.
In other words, if McDonalds wants to operate in China, they will have to do so under the local ownership of the Chinese Communist Party.
Good luck seeing any significant profit.
I have a theory about McDonald’s, that is, everything they make is all one thing, and in the back they have this big vat full of this stuff, these little molds combining, like SPLURT ‘Hamburger!’ SPLURT ‘Malt!’ SPLURT ‘Paper box!’ SPLURT ‘Here’s your change!’
- Steve Martin
McMao.
We spent a couple months in China when my husband had a work assignment there. At the time our son was 10, so we ate many lunches at McDonalds (it was right next to our hotel.) All that to say, the meat doesn’t taste like our beef hamburgers. I don’t think it’s made from the cats or dogs sold in the open markets because it would take too many, they do a massive business. But maybe a poorer quality beef with some soy added, it’s not goat because I like goat, and I didn’t like the hamburgers.
They also don’t queue up at the registers...no lines, I imagine it’s similar to being in a mosh pit :) You just push your way through, and yell out your order, or point to the laminated menu on the counter. So many people to employ means there are McDonald’s workers who clean the table, and direct the incoming diner where to sit. Positive thing, they had pineapple shakes which
were quite good.
Carlyle Group..... where useless govenent big shots go to capitalize on their government contacts... giving us such great things as SNOWDEN via BOOZ ALLEN
Edward Snowden isn’t Booz Allen Hamilton’s first leak problem.
Booz Allen derives 99 percent of its revenue from U.S. government .... that’s about $5 billion in revs...
The company was on the receiving end, according to an administrative agreement between the consulting giant and the Air Force. Last year, the Air Force considered blacklisting the company’s office in San Antonio over a leak. The incident involved a former Air Force officer hired by Booz Allen, who on his first day of work brought with him “sensitive,” non-public information regarding an upcoming Air Force contract. Booz Allen employees accepted the information, which gave the company a “competitive advantage,” and used it in internal business presentations.
As it did at the time of the Snowden breach, Booz Allen said it fired Martin and ‘immediately reached out to the authorities to offer our total cooperation in their investigation.” A government review cleared Booz Allen of any wrongdoing with regard to Snowden and Martin...
Carlyle has sold its stake in Booze ... whree will they land next.... ah China...
McDonald’s will use cow instead of dog in their hamburgers in China... well maybe 50/50 at first.
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