Yum! Brands, Inc. (NYSE: YUM) has announced the completion of the sale of Pizza Hut, excluding Mainland China, to LongRange Capital for approximately US$1.5 billion, subject to certain adjustments, with the opportunity for Yum! to receive an additional earn-out of US$75 million by 2030 based on future performance.
Latham & Watkins LLP represents the financing sources in transaction, with a team lead by New York partners Jesse Sheff, Jim Fogarty, and Kendra Kocovsky, and Washington, D.C. counsel Lucas Balchun and New York counsel Maeve Chandler, with associates Aditi Sharma, Jose Francisco Pío López, Ananya Hindupur, and Omar Adel.
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