Citic Group has announced its decision to sell a 19.23% stake in Fast Food Holdings, the company behind McDonald's operations in China, for $430 million. This transaction will be made with Trustar Capital Partners, a private-equity unit of Citic, and is part of the company's broader business strategy. Citic has emphasized that this sale will not impact its operational capabilities. Previously, Citic reduced its stake in Fast Food Holdings in 2020, and post-transaction, Citic Capital and Trustar will collectively own 52% of the company. Citic Capital has ambitious plans to expand the McDonald's footprint in China, aiming to open over 10,000 outlets in the coming years. This follows a significant acquisition in 2017 when Citic and its partners secured a majority stake in the China venture for $2.08 billion. In 2023, McDonald's increased its stake to 48% by purchasing Carlyle's share for $6 billion. However, the consumer confidence in China remains weak due to ongoing economic challenges, which could impact the fast-food market. [b420c1e6]