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Yum! China splits from Yum! Brands


11-02-2016 15:01 BJT

Global restaurant giant Yum! Brands has completed spun off its Chinese businesses from the group. The new Yum China was listed on New York Stock Exchange on Tuesday.

The new firm will operate such brands as KFC and Pizza Hut in China. Yum! CEO Greg Creed says China presents unlimited potential because the country is still in the process of urbanization with more people moving to cities. Yum! China has about 7,300 franchised restaurants in more than 1,100 cities in China. The new company's CEO -- Micky Pant -- estimates that number will reach 20,000.

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