BTIG Affirms Yum! Brands (YUM) at 'Neutral'; Says Yum China Stake Sale Valuation Below Expectations
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Primavera Capital, Alibaba's (BABA) Ant Capital to Make $460M Investment in Yum China (YUM)
September 2, 2016 6:33 AM EDTYum! Brands, Inc. (NYSE: YUM) announced that it has entered into agreements with Primavera Capital Group, a China-based global private equity firm, and Ant Financial Services Group, one of the worlds leading online and mobile financial services providers that operates the widely used Alipay mobile payments platform, to invest a total of $460 million in Yum China, concurrent with the completion of Yum Chinas spinoff from Yum! Brands.
The spinoff and concurrent completion of the Primavera and Ant Financial investments are expected to occur on October 31, 2016, with Yum China to commence... More