Yum! Will Sell Struggling Pizza Hut for $2.7 Billion
AI Summary
Yum! Brands is divesting its money-losing Pizza Hut to private equity firm LongRange Capital for $2.7 billion, signaling a strategic shift to concentrate on its more successful Taco Bell and KFC chains. This move is anticipated to close in the third quarter, providing an opportunity for LongRange Capital to revitalize the iconic pizza chain. The decision underscores the challenges faced by Pizza Hut in recent years and Yum!'s focus on maximizing shareholder value by prioritizing its top performers.
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