Yum offers to buy China's "Little Sheep" chain
NEW YORK (Reuters) - Yum Brands Inc (YUM.N), the parent of fast-food chains KFC and Taco Bell, said it had made a preliminary offer to buy most of the shares of China's Little Sheep (0968.HK) restaurant company that it does not already own.
Yum, which owns 27.2 percent of Little Sheep shares, said it would wait for approval from regulators before making a formal offer for the remaining stock in that company, which owns and runs the Hot Pot restaurants, concentrated in China.
Yum said Little Sheep's chairman and other shareholders would keep a minority interest.
(Reporting by Phil Wahba; Editing by Lisa Von Ahn)
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