Photo/Lan Suying (NBD)

Jan. 8 (NBD) -- A 42.31 percent stake in Fast Food Holdings Limited is being put up for sale with a base price of around 2.17 billion yuan (312.5 million U.S. dollars), according to a disclosure document published Wednesday on the website of China Beijing Equity Interest. 

Fast Food Holdings, as the largest shareholder, holds a 52 percent stake in McDonald's China Management Limited ("McDonald's China"). This means 22 percent of McDonald's China's equity is up for sale.

National Business Daily (NBD) noticed that the shares for sale will all come from CITIC Limited (00267.HK) which indirectly controls approximately 61.54 percent stake in Fast Food Holdings via its wholly-owned subsidiary Starry Dream Investments Limited.

With regard to the stake sale, a source with McDonald's said the deal is a pure business decision and a public invitation for bids has been issued.

In another development, CITIC Capital, which now indirectly holds a 38.46 percent stake in Fast Food Holdings, said that it has strong confidence in growth potential of McDonald's in China, and will actively participate in the bidding. 

Fast Food Holdings has been granted a master franchise to operate McDonald's restaurants in mainland China and Hong Kong for a term of 20 years since 2017.

Email: gaohan@nbd.com.cn