Yum Brands is selling Pizza Hut for $2.7 billion to shed its weakest brand

The deal splits Pizza Hut into two transactions, with LongRange Capital buying most of the chain and Yum China acquiring its mainland China locations

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Yum Brands $YUM announced Tuesday it would sell its Pizza Hut chain for $2.7 billion, offloading a brand that has weighed on its overall performance for years.

The transaction is structured as two separate deals. Under the terms of the arrangement, LongRange Capital is paying $1.5 billion for Pizza Hut's international operations excluding mainland China, with Yum China taking the remaining piece for $1.2 billion. Once taxes, closing adjustments, and fees are........

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