Yum! completes $1.2B sale of Pizza Hut China to Yum China

YUM BRANDS INC

Sale of Pizza Hut China to Yum China closed Aug 7, 2026 for $1.2B in cash.
A&R Master License Agreement removes Pizza Hut from PRC license; adds KFC/Taco Bell incentives.
Yum China guarantees YCCL's obligations under the amended license agreement.
Sale of Pizza Hut excluding Mainland China to LongRange Capital expected to close this month.

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