Yum Brands, the parent of the KFC, Taco Bell and Pizza Hut fast-food chains, is seeking to buy most of the shares of China’s Little Sheep restaurants, Reuters reports. Yum placed its bid worth $586 million for a roughly 93% stake in the restaurant chain, adds Market Watch.
Little Sheep founders, Zhang Gang and Chen Hongkai, will continue to participate in the company alongside Yum, and will own nearly 6.8% of the issued share capital of the company. Yum Brands would hold nearly 93.2% after the deal.
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