Well, the Chinese are definitely capitalising on all its economic successes, with state owned Citric Ltd buying up 2,200 shares in McDonalds, which is over 80% of the company’s holdings.
Yum China Holdings, another state-run organization that owns over 5,o00 KFCs and nearly 2,000 Pizzahuts, and has given McDonalds huge competition over the years, which have impacted on McDonalds and hence the sell out has occurred.
Image via Daily Mail
McDonald’s started in China in the 1990s and was the first major western cuisine experience adopted in the region. The sell-out is valued at over 2.08 Billion dollars.
China has been notoriously aggressive in buying-up assets within–and across the globe. In an article published back on zero-hedge, China has partnered with Zillow to buy massive chunks of real-estate all over the United States. The Article goes as follows:
“China is on the way to becoming the dominant land owner in the entire country, and that is starting to alarm a lot of people. Do we really want a foreign superpower to physically own so much of our territory?”
So I wonder will we be seeing dumplings being served at McDonalds? Or rice served on the side with some of the McDonalds favourites in the near future? I personally wouldn’t mind as I think that will add a bit of the Asian flavours into an extremely westernised fast food chain.
Well, let’s see how it goes.
Images via Vigor Vault
If you would like to read the full article, please click on: China Buys-up 2,200 McDonalds