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United States

Yum! Brands Inc (YUM)

YUM on New York Consolidated

62.42USD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Yum! Brands completes separation of Yum China business
Tuesday, 1 Nov 2016 06:30am EDT 

Yum! Brands Inc :Yum! Brands completes separation of Yum China business, creating two powerful, independent, focused growth companies.  Full Article

YUM! Brands says offered voluntary retirement program to certain U.S. employees
Tuesday, 11 Oct 2016 06:20pm EDT 

YUM! Brands Inc : During the quarter ended September 3, 2016, YUM offered a voluntary retirement program to certain U.S. employees . YUM! Brands - Voluntary retirement program to provide separation pay and benefits to employees who elected to voluntarily separate from YUM . YUM! Brands - Incurred pre-tax costs of $26 million and $32 million for quarter and year to date, respectively, related to U.S. voluntary retirement program Source: (http://bit.ly/2dZzTWe) Further company coverage: [YUM.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Yum Brands expects to record Q4 charge of $30 mln-$50 mln from early payout of pension benefits
Tuesday, 11 Oct 2016 05:36pm EDT 

Yum! Brands Inc : On September 8, 2016, began informing certain former employees of opportunity to voluntarily elect an early payout of pension benefits . Expects to make lump sum payments and commence monthly annuity payments on pension benefits payout beginning december 2016 - sec filing .Expects to record pre-tax non-cash settlement charge in q4 of $30 million-$50 million from early payout of pension benefits- sec filing.  Full Article

Yum! Brands Inc says Yum China expects to begin trading as independent co beginning Nov. 1, 2016
Tuesday, 11 Oct 2016 07:31am EDT 

Yum! Brands Inc :Yum! Brands Inc - Yum China expects to begin trading as independent co beginning Nov. 1, 2016, on New York Stock Exchange under ticker symbol "YUMC".  Full Article

Yum! Brands Inc expects to return $13.5 bln to shareholders between Q4 2015 and 2019
Tuesday, 11 Oct 2016 07:30am EDT 

Yum! Brands Inc : Yum! Brands details transformation plans to drive growth of Kfc, Pizza Hut And Taco Bell after china separation at annual investor conference today . Yum! Brands Inc - reducing annual capital expenditures from about $500 million (2015 pro forma post-separation) to about 100 million (FYE 2019) . Yum! Brands Inc - reducing G&A by a cumulative about $300 million by FYE 2019 . Yum! Brands Inc - now expects to return a total of $13.5 billion (including dividends) between Q4 2015 and 2019 .Yum! Brands Inc - Yum Brands will increase franchise restaurant ownership from 77% currently to 93% at time of separation of china business.  Full Article

Taco bell says entered Brazilian marketplace alongside Sforza Holding
Thursday, 29 Sep 2016 12:00pm EDT 

Taco Bell Corp : Entered Brazilian Marketplace Alongside Sforza Holding .Taco Bell Teams Up With Leading Brazilian Retailer To Open Five S Ã O Paulo Locations In 2016.  Full Article

BRIEF-Yum Brands: Micky Pant to lead spun-off Yum China after split
Wednesday, 28 Sep 2016 10:14pm EDT 

Corrects to clarify that Micky Pant is expected to take on CEO role of Yum China after spin-off. The new role will replace his current position as head of Yum's China unit, from which he is expected to resign..off. The new role will replace his current position as head of Yum's China unit, from which he is expected to resign.) Sept 26 (Reuters) - Yum Brands : In connection with spin-off, Muktesh (Micky) Pant will resign as CEO of Yum's current China division, conditioned on the completion of the spin-off . Pant is expected then to become CEO of the newly-formed Yum China following the spin-off expected later this year . In connection with the spin-off, Jonathan Linen will depart from the current board and audit committee and will become a member of the new Yum China board .Linen's resignation from board and appointment to Yum China's board is expected to be effective as of October 12, 2016.  Full Article

Yum! Brands says board approves separation of Yum China
Monday, 26 Sep 2016 09:25am EDT 

Yum! Brands Inc : Yum! Brands also announced an increase in company's dividend . New dividend represents an 11 pct increase from company's previous quarterly dividend of $0.46 per share . Board approved distribution of one share of Yum China common stock for each share of Yum! Brands common stock held at close of business on Oct. 19 . Yum! Brands intends for distribution of Yum China common stock to be tax-free for its shareholders . Since Yum announced intention to separate Yum China, repurchased about $5.1 billion in shares at an average price of about $80 . Yum China separation on track to be completed on October 31, 2016 . Yum! Brands board of directors approves separation of Yum China and announces increased dividend . Yum! Brands board also declared an increased dividend of $0.51 per share, payable on November 4 .Yum! Brands expects to repurchase an additional $1.1 billion in shares before end of 2016.  Full Article

Yum China and investors expect to enter into shareholders agreement
Friday, 2 Sep 2016 07:35am EDT 

Yum Brands Inc : Yum China and investors expect to enter into a shareholders agreement . Primavera will be entitled to designate 1 member of Yum China board of directors, have right to designate one non-voting board observer . Ant financial to also have the right to designate one non-voting board observer to Yum China board of directors . Shareholders agreement to have standstill item prohibiting investors from buying more than 19.9 percent beneficial stake in Yum China's voting stock . Primavera, ANT Financial will get after investment,shares of Yum China representing aggregate between 4.3-5.9% of Yum China common stock . If Primavera no longer meets certain shareholding requirements, then after 3 yrs,ANT Financial will lose right to designate board observer . For 1-year after separation, shareholders agreement will prohibit investors from transferring all,any portion of shares of Yum China .Primavera, ANT Financial will also get warrants exercisable for approximate additional 4% ownership, in aggregate, of Yum China.  Full Article

Yum Brands says Primavera Capital and Ant financial to invest in Yum China
Friday, 2 Sep 2016 06:32am EDT 

Yum Brands Inc : Yum Brands announces Primavera Capital Group and Ant Financial Services Group to make strategic investment in Yum China . Spinoff on track to be completed october 31, 2016 . Founder of Primavera Dr. Fred Hu to become Yum China's non-executive chairman . Yum China to be traded on NYSE under ticker "YUMC" . Under terms of agreements, Primavera and Ant Financial will invest $410 million and $50 million, respectively, in yum china . Primavera Capital Group and Ant Financial Services Group to invest a total of $460 million in yum china . Primavera and Ant Financial will invest $410 million and $50 million, respectively, in yum china . Primavera, Ant financial will get 2 tranches of warrants to buy shares of Yum China reflecting about 2% equity ownership interest in each tranche . Warrants to be exercisable in 5-year period after issuance of warrants, with strike prices correlating to equity values of $12 billion,$15 billion .Yum China to commence trading on New York Stock Exchange as an independent company on november 1, 2016.  Full Article

BRIEF-Yum! Brands announces authorization of up to $2 bln in share repurchases

* Yum! Brands Inc. announces authorization of up to $2 billion in share repurchases Source text for Eikon: Further company coverage: