Yum Brands is in talks with KKR and other private equity groups to sell a minority stake in its Chinese business, which the US fast-food operator plans to spin off later this year.
People familiar with the matter said that the company behind Kentucky Fried Chicken planned to sell as much as 19.9 per cent in the Chinese unit, valuing its China operations at about $10bn.
Those people added that the talks, which are also being held with several China-based funds, were at an early stage and it was not certain a deal would materialise.
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