Sanpower has confirmed its intention to franchise a McDonald’s in China

Sanpower Group has confirmed that it filed a joint with Beijing Tourism Group purchase requisition fast food chain McDonald’s in China and Hong Kong, according to Reuters.

“In recent years we are building more shopping malls, where customers could enjoy shopping. McDonald’s helped us make these centres better,” wrote the Agency a representative of the company Sanpower Zou Yan.

Informed Reuters sources familiar with the situation, reported that McDonald’s had received more than five offers to sell their restaurants in China, particularly from large Chinese corporations Beijing Tourism Group, Sanpower and ChemChina. According to them, the transaction could reach $3 billion.

In March 2016 the fast food chain announced plans to open more than 1.5 thousand restaurants in China, Hong Kong and South Korea within the next five years. As reported by the network CEO Stephen Easterbrook, McDonald’s aims to expand global partnerships via franchising and plans to make China the second country in the world by number of restaurants after the United States.