CIC ends talks with Yum Brands over China business: Sources

A consortium that includes emperor resources account China Investment Corp (CIC) and U.S. buyout organisation KKR Co has finished discussions to buy a interest in Yum Brands China unit, according to people informed with a matter.

Louisville, Kentucky-based Yum Brands, owners of a Pizza Hut and KFC fast-food chains, has been looking to spin off a 7,205 China restaurants by a finish of 2016, amid vigour from romantic financier Corvex Management, whose founder, Keith Meister, is on Yum’s board.

One of a categorical adhering points was a CIC consortium’s enterprise to have infancy control in a China business, something Yum would not perform since of a disastrous taxation implications on proceeds, a people pronounced on Friday.

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