McDonald’s Said to Narrow Bids for $2 Billion China Rights

McDonald’s Said to Narrow Bids for $2 Billion China Rights

McDonald’s Corp. selected bidders including China Cinda Asset Management Co., the nation’s second-biggest bad-loan manager, and dairy producer Beijing Sanyuan Foods Co. to make binding offers for its operations in China and Hong Kong, people with knowledge of the matter said. Sanpower Group Co., the Chinese owner of U.K. department store House of Fraser, and GreenTree Hospitality were also invited …