(Reuters) -Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald’s Corp (NYSE:MCD) operations in Hong Kong and mainland China, Bloomberg News reported.<\/p>\n\n\n\n
The move would provide a partial exit for the buyout firms after they bought the business six years ago, according to the report on Wednesday, citing people familiar with the matter.<\/p>\n\n\n\n
Bloomberg said the private equity firms would set up a new vehicle to provide a potential or partial exit for some existing investors which could allow them to raise fresh capital.<\/p>\n\n\n\n
“The company’s shareholding structure will not change. All stakeholders are highly aligned on the process,” McDonald’s China said in an emailed response to Reuters on Thursday.<\/p>\n\n\n\n
“We will continue to leverage the capital and other resources from CITIC (Trustar Capital), Carlyle, and McDonald\u2019s Corp to achieve the future milestone of 10,000 stores,” it said.<\/p>\n\n\n\n
McDonald’s currently has 5,400 stores in China. Trustar Capital is a private equity affiliate of CITIC Capital.<\/p>\n\n\n\n
Shareholders have agreed to the plan, and the asset managers have approached Mubadala Investment and GIC Pte to finalize a deal that values the business at up to $10 billion including debt, the report said.<\/p>\n\n\n\n
The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report said.<\/p>\n\n\n\n
Carlyle declined to comment. GIC and Trustar did not immediately respond to a Reuters request for comment. Trustar Capital is a private equity affiliate of CITIC Capital<\/p>\n\n\n\n
Reuters had reported in April citing two people with knowledge of the matter that Carlylye was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald’s China.<\/p>\n