Citic to sell 22% stake in fast-food chain McDonald’s China for $300m

Citic to sell 22% stake in fast-food chain McDonald’s China for $300m

A man carries takeaway from McDonald's. Photo: Andrew Herashchenko/unsplash

Chinese state-owned conglomerate Citic Ltd. is planning to significantly reduce its stake in McDonald’s China Co. more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit.