SHANGHAI :
McDonald's Renames Chinese Business Golden Arches Following CITIC Acquisition
Liao Shumin
DATE:  Oct 26 2017
/ SOURCE:  Yicai
McDonald's Renames Chinese Business Golden Arches Following CITIC Acquisition McDonald's Renames Chinese Business Golden Arches Following CITIC Acquisition

(Yicai Global) Oct. 26 -- McDonald's China Co. has officially changed its business name to Golden Arches China Co., effective Oct. 12, with branch offices to gradually transition to the new name, the company said on its official Weibo account.

The change only concerns issues at business license level and will not result in the change of restaurant names.

A series of rebranding changes have been made since CITIC Ltd. [HKG:0267] acquired a controlling interest in McDonald's Chinese mainland and Hong Kong businesses in July.

The business will become the largest McDonald's franchise outside the United States, with partners operating 2,700 McDonald's restaurants.

CITIC and CITIC Capital Holdings Ltd. hold a controlling stake in the new company, with 52 percent equity. The Carlyle Group LP [NASDAQ:CG] and McDonald's Corp. [NYSE:MCD] hold 28 percent and 20 percent, respectively.

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Keywords:   Golden Arches,McDonald's,Fast Food,Food And Beverages