McDonald's may finally have a buyer for its 2,800 restaurants in China, Hong Kong and South Korea.
The Carlyle Group, a private equity firm based in Washington, D.C., and a multinational group are reportedly the final two bidders for such a deal, according to the New York Post.
The 20-year master franchise agreement is estimated to be worth $2 billion to $3 billion.
"The turnaround plan we announced last year is grounded in many factors and includes evaluating our ownership structures around the world," a McDonald's spokeswoman told CNBC.
"We are making progress as we look for long-term strategic partners with local relevance who have complementary skills and expertise coupled with a strong understanding of McDonald's brand and who share our values and vision with a dedicated focus on accelerating growth initiatives. As no decisions have been made, it would be premature to speculate further."
The Carlyle Group has seen success in the restaurant industry before. In 2006, the firm purchased Dunkin' Brands and exited through the public markets in 2012, after expanding the brand in China, according to the Post.
The Carlyle Group declined to comment.