Yum Brands sells Pizza Hut for $2.7 billion
Yum Brands is selling its Pizza Hut operations outside China for $1.5 billion to LongRange Capital.
The company is also selling its Pizza Hut presence in mainland China to Yum China Holdings for $1.2 billion.
Yum Brands stock jumped 3% to about $160 per share after the news broke, with the company’s stock up 12% over the past year.