Oct 21 (Reuters) - China's state-owned CITIC Ltd ( CTPCF )

has agreed to sell its 19.23% stake in the company

that operates fast-food chain McDonald's across China and Hong

Kong for $430.3 million, fully exiting the business.

It will sell the stake in Fast Food Holdings to a unit of

Chinese private equity firm Trustar Capital Partners, CITIC ( CTPCF ) said

in a statement.

Fast Food Holdings owns 52% of the holding company managing

McDonald's businesses in mainland China and Hong Kong.

The divestment comes after four years, when a unit of CITIC ( CTPCF )

had put up for sale a stake it held in Fast Food Holding,

intending to raise about $312 million.

In 2017, McDonald's sold a majority stake in its

China and Hong Kong operations to CITIC ( CTPCF ), its investment arm

CITIC Capital, now known as Trustar, and Carlyle, in a deal

valued at $2.1 billion at the time.

McDonald's in 2023 increased its stake in the Chinese

business to 48% by buying Carlyle's 28% share, valuing the stake

at $6 billion.

($1 = 7.1116 Chinese yuan renminbi)

(Reporting by Roshan Thomas in Bengaluru; Editing by Arun

Koyyur and Devika Syamnath)