Yum Brands to sell struggling Pizza Hut chain for $2.7-billion
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Article Excerpt
Yum Brands to sell struggling Pizza Hut chain for $2.7-billion
KOYENA DAS AND NEIL J KANATT
REUTERS
PUBLISHED 1 HOUR AGO
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Yum entered exclusive talks with LongRange in May.
GERALD HERBERT/THE ASSOCIATED PRESS
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Yum Brands Inc. said on Tuesday it would sell its Pizza Hut chain for US$2.7-billion, as the unit struggles with stiff competition in the fast-food market and cautious consumer spending.
Pizza Hut in Mainland China will be acquired by Yum China for US$1.2-billion while the rest of the business will be acquired by private equity …
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