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Yum! Brands to spin off China business at activist's behest

Oct 20, 2015 - The Deal Pipeline

By Brian Sozzi -- Yum! Brands Inc. (YUM) is throwing in the towel on the competitive fast-food industry in China -- in a manner of speaking.

On Tuesday, Yum! Brands announced that it will split into two companies: Yum! China and Yum! Brands. 

Yum! China will become a franchisee of Yum! Brands in mainland China and have exclusive rights to own and operate restaurants based on the KFC and Pizza Hut brands. While not yet in China, Taco Bell is also part of the franchise arrange...