Yum Brands sells Pizza Hut in $2.7bn deal

Yum Brands is divesting its struggling Pizza Hut chain in a $2.7 billion deal.

Private equity firm LongRange Capital will acquire Pizza Hut's global operations, excluding China, for approximately $1.5 billion.

India's Pizza Hut business will also fall under LongRange Capital's management.

The China operations are being sold to Yum China Holdings for about $1.2 billion.