Yum Brands to Divest Pizza Hut in $2.7 Billion Deal
Yum Brands announced it will sell Pizza Hut for a combined $2.7 billion, splitting the chain between Yum China, which will pay $1.2 billion for the Mainland China operations, and private equity firm LongRange Capital, which will pay $1.5 billion for the rest of the business. The move follows exclusive talks with LongRange after Yum reviewed strateg…