Yum Brands KFC owner Yum in talks with KKR over China unit stake sale

The US firm could reportedly sell up to 20% of its Chinese operations, valuing the unit at about $10bn (£7bn)

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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.

 

Credit: BBC

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