KFC and Pizza Hut owner Yum Brands said Chinese investment firm Primavera Capital and an affiliate of Alibaba Group Holding will buy a stake in Yum China for $460 million.
Primavera will invest $410 million and Ant Financial $50 million, Yum Brands said on Friday. Yum China will begin trading on the New York Stock Exchange as an independent company on November 1.
Primavera and Ant Financial will buy the shares at an 8% discount to the average price at which Yum China’s shares trade between 31 days and 60 days after they are distributed to Yum shareholders.
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Source: Economic Times
