Yum Brands agrees to sell Pizza Hut for $2.7B to LongRange and Yum China

Yum Brands has entered into definitive agreements to divest Pizza Hut, with LongRange Capital acquiring Pizza Hut ex-China for approximately $1.5 billion and Yum China acquiring Pizza Hut China for approximately $1.2 billion. The transaction enables Yum to focus on core brands while the board approved an additional $4 billion share repurchase authorization, positioning the company for improved shareholder returns.