Yum! Brands offloads Pizza Hut for $2.7bn, India franchisees Sapphire and Devyani slide
Yum! is splitting Pizza Hut: LongRange Capital takes the global business for $1.5bn, Yum China buys the China unit for $1.2bn. Net $2.3bn proceeds fund a $4bn buyback. India listed franchisees Sapphire Foods and Devyani International, operating 2,000+ KFC/Pizza Hut/Taco Bell outlets, fell on ownership-change uncertainty.
Yum! Brands is selling Pizza Hut for $2.7bn, splitting global ops to LongRange Capital and China unit to Yum China. India franchisees Sapphire Foods and Devyani International, running 2,000+ KFC/Pizza Hut/Taco Bell outlets, slipped on the news.