The Carlyle Group, China-based conglomerate CITIC and CITIC’s alternative investment arm CITIC Capital Holdings have agreed to acquire the mainland China and Hong Kong businesses of global fast food chain McDonald’s for a total consideration of up to US$2.08 billion. Carlyle will invest through Carlyle Asia Partners IV. After the transaction is completed, CITIC and CITIC Capital will have a controlling stake of 52 percent in a new McDonald’s China master franchise, while Carlyle and McDonald’s will have interests of 28 percent and 20 percent, respectively. The transaction is subject to regulatory approvals and expected to close in mid-2017. Separately, Carlyle has agreed to acquire a 75 percent stake in Chile-based quick service restaurant group Gastronomía & Negocios from existing investors the Duch and Fuenzalida families. Carlyle will invest through Carlyle Peru Fund. Financial details of the transaction were not disclosed.