Yum! Brands Completes Sale of Pizza Hut China to Yum China Holdings

Yum! Brands Completes Sale of Pizza Hut China to Yum China Holdings

Sale of Pizza Hut, excluding Mainland China, to LongRange Capital remains on track to close this month

Yum! Brands, Inc. (NYSE: YUM) (“Yum!” or the “Company”) today announced the completion of the sale of Pizza Hut in Mainland China (“Pizza Hut China”) to Yum China Holdings, Inc. (NYSE: YUMC; HKEX: 9987) (“Yum China”), for $1.2 billion.

The transaction with Yum China represents one of two previously announced definitive agreements to sell Pizza Hut for $2.7 billion in the aggregate, subject to certain purchase price adjustments relating to the sale of the Pizza Hut business outside of Mainland China.

Yum!’s transaction to sell Pizza Hut, excluding Mainland China, to LongRange Capital remains on track to close this month, subject to customary closing conditions, including receipt of required regulatory approvals.