Deals
Yum Brands to Separate China Business After Three Decades
- Slowing Chinese economy, food scandal triggered activist calls
- Company plans to return `substantial capital' to investors
Yum Brands Heeds Hedge Fund Call to Spinoff China
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Yum! Brands Inc. bowed to activist-investor pressure and agreed to separate its China business from its U.S. operations, the biggest shake-up at the company since it was spun off from PepsiCo Inc. almost two decades ago.
Yum! China will become a franchisee of Yum in the Asian country, with exclusive rights to KFC, Pizza Hut and Taco Bell, according to a statement Tuesday.