Yum! Brands (YUM) Sells Pizza Hut for $2.3 Billion in Two Deals

Yum! Brands (YUM) is divesting Pizza Hut in two transactions, selling it outside of mainland China to LongRange Capital and in China to Yum China. The total expected revenue from these sales is approximately $2.3 billion, which will positively impact Yum! Brands' balance sheet. The company plans to redirect its focus towards growth opportunities in KFC and Taco Bell, which are viewed as having stronger unit economics. Yum! Brands has also authorized a $4 billion share buyback, although its stock has seen minimal movement year-to-date, with a gain of less than 1%.