Yum China Holdings, Inc. entered into a Membership Interest Purchase Agreement with Yum! Brands, Inc. to acquire the intellectual property and related rights for the Pizza Hut brand in the People's Republic of China for US$1.2 billion in cash. The transaction is expected to close in the third quarter of 2026 and will be funded through a combination of cash and debt financing. Yum China operates in the restaurant industry, managing brands like KFC, Taco Bell, and Pizza Hut in China.
