Yum Brands up after deal to sell Pizza Hut for $2.7 billion
16/06/2026 13:48
BUZZ-Yum Brands up after deal to sell Pizza Hut for $2.7 billion ** Shares of fast-food chain Yum Brands YUM.N up 1% at $156.65 premarket
** Co to sell its Pizza Hut chain for $2.7 billion
** Says Pizza Hut in Mainland China will be acquired by Yum China 9987.HK for $1.2 billion, while the rest of the business will be acquired by private equity firm LongRange Capital for $1.5 billion
** Expects about $2.3 billion in net proceeds from the two transactions after taxes and other items
** Expects both transactions to close in the third quarter of 2026
** Including session's moves, stock down 24% YTD
(Reporting by Koyena Das from Bengaluru)