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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Connect  >  CITIC Limited    0267   HK0267001375

CITIC LIMITED

(0267)
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China's Citic Plans to Sell Part of Stake in McDonald's China Operations

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01/08/2020 | 02:57am EST

By Martin Mou

Chinese state-owned conglomerate Citic Group is selling part of its stake in McDonald's China operations for at least 2.17 billion yuan ($312.4 million).

Citic unit Starry Dream Investments Ltd. has put up a 42% stake in Fast Food Holdings Ltd., which controls McDonald's China operations, for sale on the Beijing Equity Exchange, according to a filing to the exchange on Wednesday.

Starry Dream Investments owns 62% of Fast Food Holdings while CCP Fast Food Holdings Ltd. holds the remaining 38% stake.

Citic and Carlyle Asia Partners bought a controlling interest in McDonald's Mainland China and Hong Kong businesses in 2017 from the U.S. fast-food chain operator for $2.08 billion.

Write to Martin Mou at martin.mou@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CITIC LIMITED 0.74% 9.51 End-of-day quote.-0.21%
CITIC SECURITIES COMPANY LIMITED -0.94% 25.18 End-of-day quote.0.47%
MCDONALD'S CORPORATION 0.37% 215.87 Delayed Quote.9.24%
THE CARLYLE GROUP INC. -0.29% 31.27 Delayed Quote.-2.52%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.20% 7.05283 Delayed Quote.1.06%
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Financials (HKD)
Sales 2019 528 B
EBIT 2019 95 346 M
Net income 2019 55 121 M
Debt 2019 305 B
Yield 2019 4,73%
P/E ratio 2019 4,87x
P/E ratio 2020 4,56x
EV / Sales2019 1,09x
EV / Sales2020 1,17x
Capitalization 270 B
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Technical analysis trends CITIC LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 11,51  HKD
Last Close Price 9,27  HKD
Spread / Highest target 35,9%
Spread / Average Target 24,2%
Spread / Lowest Target 3,02%
EPS Revisions
Managers
NameTitle
Jiong Wang Vice Chairman & President
Zhen Ming Chang Chairman
Wai Keung Siu Independent Non-Executive Director
Jin Wu Xu Independent Non-Executive Director
Zhong Yuan Liu Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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SBI HOLDINGS, INC.-0.65%5 031