China's Sanpower confirms joint bid for McDonald's HK, China assets

June 23, 2016 2:23 AM

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China's Sanpower confirms joint bid for McDonald's HK, China assets

HONG KONG China's Sanpower Group said it has submitted a joint bid with Beijing Tourism Group for McDonald's (MCD.N) Hong Kong and China businesses, confirming information provided by people familiar with the matter a day earlier.

"In recent years, we are building more offline commercial stores, aiming to provide better shopping experience for consumers. McDonald’s could provide new brand elements for us," Sanpower spokesman Zou Yan said in an email.

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