Citic, Carlyle to buy stake in McDonald's China, Hong Kong businesses for $2.08 billion

(Reuters) - Chinese conglomerate Citic Group Corp and Carlyle Group LP would buy a majority interest in McDonald's Corp's mainland China and Hong Kong businesses for $2.08 billion, the companies said.

Citic and Citic Capital will have a stake of 52 percent, while Carlyle and McDonald's will own 28 percent and 20 percent, respectively in the businesses.

Reuters reported in December that McDonald's was looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores.

(Reporting By Rushil Dutta in Bengaluru; Editing by Gopakumar Warrier)