Yum to Sell Stake in Chinese Unit, Setting Stage for Spinoff

Updated on
  • Primavera Capital, Ant Financial will pay $460 million
  • Yum will turn Chinese operations into separate company Oct. 31

Yum! Brands Inc. agreed to sell a combined $460 million stake in its Chinese operations to Primavera Capital Group and Ant Financial Services Group, a deal that sets the stage for a spinoff of the business into a separate company next month.

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