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Yum China Stake Sale Said Delayed as Suitors Miss Deadline

Yum China Stake Sale Said Delayed as Suitors Miss Deadline

  • Suitors including Temasek, Primavera hold off submitting bids
  • Potential investors balk at new conditions imposed by Yum

The sale process for a stake in Yum! Brands Inc.’s China business, which operates KFC and Pizza Hut eateries in the country, has been delayed, people with knowledge of the matter said.

Potential bidders including Singapore state investment company Temasek Holdings Pte and Chinese private equity firm Primavera Capital Ltd. missed a deadline earlier this month to submit offers for a minority stake in the business, the people said. The suitors held off submitting bids after Yum sought to impose new terms on the investments, said one of the people, who asked not to be identified because the information is private.

The investors also indicated they disagree with Yum’s proposed valuation of $10 billion for the China unit...


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