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Yum! Brands Inc (YUM)

YUM on New York Consolidated

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17 Feb 2017
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Latest Key Developments (Source: Significant Developments)

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

Yum! Brands struck deal to sell stake in China operations - WSJ
Friday, 2 Sep 2016 05:48am EDT 

: Yum Brands Inc struck deal to sell stake in China operations to prominent Chinese deal maker & financial affiliate of Alibaba Group Holding - WSJ . Primavera Capital and Ant Financial Services Group to buy combined $460 mln stake in Yum China Holdings Inc spinoff - WSJ, citing sources Source: http://on.wsj.com/2ciFl5T Further company coverage: [YUM.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Shares of Yum China will be listed on the NYSE under the symbol "YUMC"
Wednesday, 31 Aug 2016 09:06am EDT 

Yum! Brands Inc :Shares of Yum China Holdings will be listed on the New York Stock Exchange under the symbol "YUMC".  Full Article

Pizza Hut announces partnership with Amrest in Central & Eastern Europe
Wednesday, 17 Aug 2016 12:42pm EDT 

Yum! Brands Inc : Pizza Hut announces master franchise partnership with Amrest Holdings SE in Central & Eastern Europe . Amrest to have right to own, sub-franchise Pizza Hut restaurants in Poland, Czech Republic, Hungary, Bulgaria, Serbia, Croatia, Slovakia, Slovenia .Amrest signed a master franchise agreement with Pizza Hut with plans to develop over 300 restaurants over next five years.  Full Article

Yum Brands Q2 earnings per share $0.75 excluding items
Wednesday, 13 Jul 2016 04:05pm EDT 

Yum Brands Inc : Reports second-quarter GAAP operating profit growth of 32%; delivered core operating profit growth of 7%; raises full-year core operating profit growth guidance to at least 14% . Q2 GAAP earnings per share $0.81 . Q2 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Raises full-year core operating profit growth guidance to at least 14% . On track to finalize China separation with targeted completion date around October 31, 2016 . Foreign currency translation negatively impacted operating profit by $16 million . Yum Brands Inc qtrly total revenue $3,008 million versus $3,105 million . Yum Brands Inc qtrly total revenue from China division $1,588 million versus $1,636 million . To raise full-year core operating profit growth forecast to at least 14% from 12% previously . To raise full-year core operating profit growth forecast given strong first-half results and current trends in China . "Outside of China, challenging industry conditions in U.S. contributed to soft sales results" . Q2 worldwide system sales grew 3 percent . Outside China, three brand divisions in "on track to deliver against their full-year core operating profit growth targets" . "China division is off to a good start in Q3 for both KFC and Pizza Hut casual dining" . Q2 earnings per share $0.75 excluding items . "Plan to return a significant amount of capital to shareholders both prior to and after spin".  Full Article

Yum! Brands says separating China business into new public co
Tuesday, 12 Jul 2016 10:52pm EDT 

Yum! Brands : Separation of China business into a newly formed public co named Yum China Holdings Inc .Yum China Holdings Inc will initially have over 7,200 restaurants across China.  Full Article

Yum! Brands says separating China business into new public co
Tuesday, 12 Jul 2016 05:29pm EDT 

Yum! Brands : Separation of China business into a newly formed public co named Yum China Holdings Inc .Yum China Holdings Inc will initially have over 7,200 restaurants across China.  Full Article

More From Around the Web

BRIEF-Yum Brands reports changes to board of directors

* Yum Brands - Keith A. Meister, managing partner of Corvex Management Lp, has elected to step down from its board of directors Source text for Eikon: Further company coverage: