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

A lady strolls past a McDonald’s outlet in Hong Kong in this July 25, 2014 file photo.

Reuters/Tyrone Siu/File Photo

China’s Sanpower Group said it has sent a joint quote with Beijing Tourist Group for McDonald’s (MCD.N) Hong Kong and China companies, validating information provided by individuals familiar with the matter a day earlier. “In recent years, we are developing more offline business stores, intending to offer much better shopping experience for consumers. McDonald’s might provide brand-new brand aspects for us,” Sanpower spokesman Zou Yan said in an email. Sources familiar with the matter said McDonald’s has received over half a dozen bids for its China and Hong Kong stores, consisting of offers from Beijing Tourism Group, Sanpower and ChemChina, in an auction that could bring up to $3 billion.

Sanpower’s interest in McDonald’s possessions comes two years after its Shanghai-listed retail arm bought 89 percent of the owner of British department store House of Fraser for $803 million.

( Reporting by Tris Pan; Writing by Saeed Azhar; Modifying by Edwina Gibbs).

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