Primavera, Ant Financial to invest $460m in Yum China spin-out
Primavera Capital and Ant Financial Service Group have agreed to invest a combined $460 million in Yum China, a spin-out from US-listed Yum Brands which owns fast-food giants KFC, Pizza Hut and Taco Bell.
Primavera will pay $410 million and Ant Financial, Alibaba Group's online financial services affiliate, will invest $50 million. The Yum China business will complete its spin-out from Yum Brands on October...
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