Meanwhile, the CITIC Consortium, through the CITIC Capital, will continue to hold its controlling ownership stake of 52%.

After the completion of the transaction, McDonald's will remain a minority partner while raising its stake from 20% to 48% ownership. 

"We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest growing market's long-term potential," said President and CEO Chris Kempczinski.

The business has generated systemwide sales growth of more than 30% in the market year-to-date since September 2019.

The deal is contingent upon regulatory approvals and is expected to close in the first quarter of 2024. 

Price Action: MCD shares are trading higher by 0.59% at $277.38 on the last check Monday.

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