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The
two private equity firms, which have partnered with conglomerate
CITIC Group Corp [CITIC.UL] and hotelier GreenTree Hospitality
respectively, will compete with Chinese bidders for assets worth
up to $3 billion, said the people, who declined to be identified
because details of the deal are not public.
The people did not give a reason for TPG's decision to pull out.
Chinese bidders include real estate firm Sanpower Group Co Ltd [SPGCL.UL]
and mini-market operator Wumart Stores Inc, Reuters previously
reported.
Carlyle, Bain and TPG declined to comment. McDonald's did not
respond to a Reuters request for comment outside regular U.S.
business hours.
McDonald's in March said it was reorganizing operations in Asia,
bringing in partners as it switches to a less capital-intensive
franchise model. It hired Morgan Stanley <MS.N> to run the sale
of about 2,400 restaurants in China and Hong Kong.
(Reporting by Elzio Barreto and Julie Zhu; Editing by
Christopher Cushing)
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