Yum! Brands Sells Struggling Pizza Hut in $2.7 Billion Deal

TL;DR

Yum! Brands is selling Pizza Hut for $2.7 billion.
LongRange Capital will acquire Pizza Hut (excluding mainland China) for $1.5 billion.
Yum China will purchase Pizza Hut China for $1.2 billion.
The sale follows years of underperformance and lagging sales for Pizza Hut compared to other Yum! Brands chains.
Pizza Hut has been losing market share to Domino's and facing competition from delivery companies.
Yum! Brands began exploring options for Pizza Hut in November due to declining sales.

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