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Subject: Yum Brands, the owner of KFC, Taco Bell and Pizza Hut, is in talks with KKR and other financial firms about the sale of a stake in its China business
Excerpt: English text from the archived bilingual edition · Chinese edition
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Yum Brands, the owner of KFC, Taco Bell and Pizza Hut, is in talks with KKR and other financial firms about the sale of a stake in its China business
The US firm could reportedly sell up to 20% of its Chinese operations, valuing the unit at about $10bn (?7bn)
Last October, it announced plans to spin off and list its China division by the end of 2016
The shake-up is set to be the biggest since Yum was split from PepsiCo two decades ago
However, talks are said to be in their early stages and a deal is not guaranteed
"We continue to make good progress since we announced the transaction separating Yum and Yum China," a Yum spokesperson said in a statement
"We will provide updates on the transaction at appropriate times and we won’t comment on rumours or speculation."
Yum has an overall market value of $32bn, but gets more than half of its profits from the China business
However, its earnings from the mainland have been hit in recent years by a food safety scandal involving a meat supplier, as well as increased competition
Shares of Yum rose by nearly 2% in US trading following the reports about the sale talks
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