Though the acquisition would mean full ownership of the restaurant brand in mainland China, the company’s stock price fell after the announcement.

Yum China Holdings is moving to take full ownership of the Pizza Hut brand on the Chinese mainland in a $1.2 billion deal, a strategic shift that would eliminate ongoing royalty…

Yum! Brands is selling Pizza Hut in two deals worth $2.7 billion. The company said Tuesday that private equity firm LongRange Capital is buying Pizza Hut, excluding the mainland…