Yum Brands sells a shrinking Pizza Hut for $2.7 billion

Yum Brands is selling Pizza Hut for $2.7 billion, with LongRange Capital acquiring the U.S. and other regions for $1.5 billion and Yum China Holdings Inc. purchasing the mainland China business for $1.2 billion. The sale follows declining sales and plans to close 250 U.S. restaurants due to outdated stores and competition.