Chinese companies to buy KFC, Pizza Hut detonated snack bar
recently broke the news that a Chinese company will buy KFC, Pizza Hut western fast food detonated snack bar. If the acquisition is successful, China’s KFC, Pizza Hut will become Chinese companies. If KFC, pizza hut into Chinese companies, you will go to eat it?
4 19, 2009, a message detonated fast food circle, a Chinese company is trying to acquire its KFC, Pizza Hut and other Western fast food brands giant Yum China business. Media linked Yum China relevant person in charge to verify the matter, yum acknowledged that China’s business is being split, has made good progress, but no comment on rumors or speculation.
Chinese company intends to acquire Yum
It is reported that
, the media quoted informed sources said that CIC Chinese sovereign wealth fund backed consortium proposed to buy a majority stake in Yum China business (100%) the intention, valuation of the deal for the Chinese Yum may be in 7 billion -80 billion dollars, the investment group is to Chinese subsidiaries due diligence, investment the members of the group including KKR and Baring Private Equity Asia.
said that Temasek, Chunhua capital in Chinese Yum shares bid. Yum is considering all options, may decide to sell a minority stake, or promote previously announced business stripping.
Yum representatives said in an e-mail announcement that the company has continued to make good progress since it announced plans to divest the Chinese business and declined to comment on the rumors. Temasek, Baring and KKR also declined to comment.
this month than last month revealed a larger amount of information, the valuation has been reduced. In mid March, there is the media broke Yum is considering to include KKR, Baring Private, Equity Asia and several Chinese fund sale of shares, the proportion of shares sold for 19.9%, while the price makes the overall valuation of Chinese business of about $10 billion, much higher than the valuation of the burst of numerical.
has plans to spin off China business
in fact, as early as October last year, yum issued a notice that it intends to spin off the business in the region, so yum China listed on the New York stock exchange or Hongkong. The company also said it would return $6 billion 200 million to shareholders in the event of a split in China and its listing on the New York stock exchange or Hongkong. Yum said that the return of capital will likely take a variety of ways, including stock repurchase, equity acquisitions or special dividends.
split, yum China will recommend