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McDonald's Corp is looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores after the U.S. fast-food chain decided to keep "a significant minority stake in the business," a person with direct knowledge of the plans said on Tuesday. The company has picked a consortium led by private-equity firm Carlyle Group LP and Chinese conglomerate Citic Group Corp [CITIC.UL] to buy the stores and its decision to retain the minority stake lowered the price tag for the business from up to $3 billion expected previously, said the person, who declined to be identified because details of the deal are not public. McDonald's wants exposure to future growth in the world's second-largest economy which is why it decided to maintain the stake, the person said.
By Estelle Shirbon LONDON (Reuters) - Importing fine foods from Spain has been a good trade for London firm Brindisa, but like many food and wine businesses that rely on the free movement of goods and workers within the European Union, it has been badly hit by Britain's vote to leave. Launched on a shoestring by entrepreneur Monika Linton 28 years ago, Brindisa now employs 300 people in five London restaurants, two shops and a warehouse. It is part of a sector that encompasses more than 27,500 businesses in London, generating an annual turnover above 14 billion pounds.