Carlyle, Trustar Plan $4 Billion McDonald’s China Exit
- Carlyle, Trustar approached GIC, Mubadala on new fund
- The fund would allow investors to cash out amid IPO freeze
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Carlyle Group Inc. and Trustar Capital are seeking a partial exit from McDonald’s Corp.’s operations in Hong Kong and mainland China, people familiar with the matter said, in a deal that would raise $4 billion.
GIC Pte and Mubadala Investment Co., the Abu Dhabi sovereign wealth fund, have been approached about the deal that values the entire business at up to $10 billion including debt, the people said. Shareholders have agreed to the plan, and the asset managers aim to finalize an agreement with investors in the fourth quarter, they said, asking not to be identified discussing private matters.