Yum! Brands has agreed to sell Pizza Hut in a dual transaction with private equity firm LongRange Capital and Yum China Holdings, valuing the global pizza chain at around $2.7bn, according to a report by CNBC.
Under the deal, LongRange Capital will acquire Pizza Hut’s non-China operations for approximately $1.5bn, while Yum China Holdings will separately purchase the brand’s mainland China business for about $1.2bn.
The transaction effectively splits Pizza Hut’s global footprint, with each buyer...
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