Yum! Brands, Inc. (NYSE: YUM) has announced that it has entered into definitive agreements to sell Pizza Hut for US$2.7 billion in the aggregate, subject to certain purchase price adjustments. Pizza Hut, excluding mainland China, will be acquired by LongRange Capital, a private equity firm with a customer-centric and operationally oriented approach, and Pizza Hut in mainland China will be acquired by Yum China Holdings, Inc. (NYSE: YUMC; HKEX: 9987)
Latham & Watkins LLP represents the financing sources in transaction, with a team lead by New York partners Jesse Sheff, Andrew Baker, Jim Fogarty, and Kendra Kocovsky, and Washington, D.C. counsel Lucas Balchun and New York counsel Maeve Chandler, with associates Jose Francisco Pío López and Ananya Hindupur.
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