India, June 16 -- Yum! Brands (YUM) said Yum! will sell Pizza Hut, excluding Mainland China, to LongRange Capital for approximately $1.5 billion. Yum! has the opportunity to receive an earn-out of $75 million by 2030. Also, Yum! will sell Pizza Hut in Mainland China to Yum China Holdings, Inc. for approximately $1.2 billion.
Yum! expects to receive approximately $2.3 billion of net proceeds after taxes, closing adjustments and transaction-contingent fees, excluding the earn-out. Yum! additionally expects to incur one-time expenses of approximately $85 million during the remainder of 2026 to effectuate the separation. The net after-tax proceeds will be used in accordance with the capital allocation strategy, including investing in the busin...