Citic and Carlyle Close in on $3B Deal for China McDonald’s and More Asia Real Estate Headlines

McDonald’s may not get a break today, but the fast food giant appears close to selling off its China stores to a consortium led by Carlyle and Citic according to news reports that value the transaction at u to $3 billion. Also in the headlines, Wanda’s growing global role gets some pushback from NY senator Charles Schumer and Anbang’s Canadian senior care deal may be set for some new scrutiny, after reports of lobbying with PM Justin Trudeau. Read on for all these stories and more.

Citic and Carlyle Close in on $3B Deal for China McDonald’s

A consortium led by private-equity firm Carlyle Group (CG.O) and Chinese conglomerate Citic Group Corp has neared a deal to buy McDonald’s Corp’s (MCD.N) stores in China and Hong Kong for up to $3 billion, a source with direct knowledge of the matter said.

The deal is likely to be signed before Christmas, the source said. Reuters had reported in October that U.S. buyout firms Carlyle and Bain Capital LLC had been the front runners among the bidders for the fast-food giant’s China assets. Read More>>

Lobbyist Links with Trudeau Raise Questions on Anbang’s Canadian Senior Care Deal

A wealthy Vancouver businessman used a cash-for-access fundraiser at his home to lobby Prime Minister Justin Trudeau directly to allow Chinese investment in seniors’ care, relax immigration restrictions on financiers and make it easier for foreign real estate developers to plow money into Canada.

The Nov. 7 fundraiser hosted by Miaofei Pan, where talk of investment by Chinese companies in seniors’ care took place, came as the Trudeau government is reviewing a bid by China’s Anbang Insurance Group to buy one of B.C.’s biggest retirement-home chains. Read More>>

Fosun Spinning Off Hospitality Assets in Run-Up to IPO

Fosun Group, China’s biggest privately held conglomerate, has spun off its tourism and entertainment assets into Fosun Tourism and Culture Group, a move that could see the listing of the business eventually.

Fosun Tourism and Culture Group, the new unit, will have among its assets French resort operator Club Méditerranée, said Qian Jiannong, global partner and vice president of Fosun Group. Read More>>

Invesco Core Fund Teams with Challenger for A$430M Melbourne Deal

Invesco Real Estate’s Asia Core Fund and Australian financial group, Challenger, are jointly investing in a Melbourne office complex, according to a source. The partnership is investing AUD430m (€300m) in central Melbourne.

The Invesco fund and Challenger will each have a 50% stake in the property, in Melbourne’s Docklands. It will be Invesco’s first joint investment with Challenger. Read More>>

Beverly Hills City Council Approves Plan for Wanda Residential Project

Beverly Hills City Council voted 4-1 Tuesday to approve a lucrative development deal with luxury hotel-condo project One Beverly Hills. Owned by Dalian Wanda Group, the project will feature residences, a 134-room “luxury boutique hotel,” rooftop pool, and restaurant.

Under the development agreement, the Wanda Group is required to pay Beverly Hills $60 million in upfront payments, 5 percent of the gross room revenue on top of the standard 14 percent hotel bed tax, and higher environmental mitigation fees. City officials say the deal will bring in $820 million for Beverly Hills over the next 30 years. Read More>>

Wanda World’s Biggest Theater Operator After UK Deal Approved

Dalian Wanda Group is now the biggest cinema operator in the world after Friday’s approval of its purchase of Europe’s top theater chain.

The Chinese real estate giant was already the largest theater operator in the U.S. and China. But the purchase of the U.K.’s Odeon & UCI Cinemas Holdings helped Wanda extend its influence to Europe. The company now oversees over 13,000 screens worldwide. Read More>>

NY’s Schumer Raises Red Flag Over Wanda’s US Deals

Soon-to-be Senate Minority Leader Chuck Schumer is the latest Washington insider to take aim at Dalian Wanda Group, sending a letter Wednesday to two government regulators calling for increased scrutiny of the Chinese conglomerate that’s been splashing cash in Hollywood by the billion.

In a letter addressed to Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman obtained by TheWrap, Schumer wrote that Wanda’s recent acquisitions, such as its $3.5 billion purchase of Legendary Entertainment in January, “reflect the strategic goals of China’s government” and called for further review by the Committee on Foreign Investment in the United States. Read More>>

China Vanke Says Major Shareholders Not Selling

Property developer China Vanke Co on Friday clarified market speculation that major shareholders had not reduced their stakes in the company.

In response to a stock exchange inquiry into media reports that biggest shareholder Baoneng Group had sold down its stake, Vanke said that major shareholders, including Baoneng and China Resources, did not participate in the block trade involving 3.99 per cent of the company’s A-shares. Read More>>

Shanghai Housing Transactions Drop 30% in November

Shanghai’s new housing market lost its strength for the third consecutive month in November amid prevalent wait-and-see sentiment among buyers though average price continued to break record due to a structural shift.

The area of new residential properties sold, excluding government-funded affordable housing, plunged 30.6 percent from October to 603,000 square meters in November, Shanghai Centaline Property Consultants Co said in a report released today. On a year-on-year basis, the figure marked an even notable drop of 59.7 percent. Read More>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.