Under the agreement signed Monday, the US fast food giant will keep a 20% stake in its China business. Citic will hold a 52% share in the partnership while Caryle takes 28% of the new…
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Distressed debt manager China Orient to raise $1.5 bln ahead of IPO-IFR
HONG KONG Jan 9 Distressed debt manager China Orient Asset Management Co Ltd plans to raise about $1.5 billion ahead of a planned initial public offering (IPO) in Hong Kong, IFR reported on Monday, citing…
McDonald’s sells most of China, HK business to CITIC, Carlyle for $2.1-billion
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 $2.1-billion, seeking to expand rapidly without using much…
Nokia is trying to make a smartphone comeback, starting in China
Nokia is launching a comeback — in China. If you are a cell phone user of a certain age, you likely have a soft spot for the Nokia brand. In the late 1990s and most…
Yum China Launches Taco Bell Brand in China
SHANGHAI, Jan. 9, 2017 /PRNewswire/ — Yum China Holdings, Inc. (“Yum China”) (NYSE: YUMC), and Taco Bell Corp., the world’s largest Mexican-inspired restaurant chain, today announced that they have opened the first Taco Bell restaurant…
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…
McDonald's gives up control of its China business in $2 billion deal
McDonald’s is selling off most of its China business in a deal worth as much as $2.1 billion. Citic, a massive Chinese financial firm, is taking the majority stake in McDonald’s (MCD) operations in mainland…
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…
China's IPO market heats up in 2016
BEIJING – China’s IPO market did better in 2016 as the regulator accelerated approvals in the latter half of the year. According to the official Securities Times, 12 companies are expected to go public on…
U.S. and Canada falling behind China in race for renewable energy
China is rapidly gaining dominance in the fast-growing, global renewable energy market, as state-owned companies make massive overseas investments to secure the country’s leadership. Countries such as the United States and Canada need a clear…
China, Seeking to Stop Weakening of Currency, Issues Restrictions
“Movements of this speed and magnitude have to be either official intervention or officially directed action by Beijing,” said Christopher Balding, an associate professor of finance at the Peking University HSBC School of Business in…
China chides Trump: 'Twitter shouldn't become an instrument of foreign policy'
China’s state news agency, Xinhua … “Everyone recognizes the common sense that foreign policy isn’t child’s play, and even less is it like doing business deals,” the article stated. “Twitter shouldn’t become an instrument of…
Apple pulls New York Times app in China after government request
Apple Inc has removed the New York Times Co’s news apps from its app store in China following a request from the Chinese authorities, the companies said separately on Thursday. Apple removed both the English-language…
