Yum Brands to sell struggling Pizza Hut for $2.7 billion

Pizza Hut's parent company is selling the struggling chain for $2.7 billion.

Yum Brands said its main business will be bought by private equity firm LongRange Capital, while Yum China will buy up the pizza company's mainland China operation.

Pizza Hut has struggled against rising competition from the likes of DoorDash and Uber Eats. Following the announcement on Tuesday, shares of Yum Brands closed nearly 2% higher.

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Видео Yum Brands to sell struggling Pizza Hut for $2.7 billion канала PBS NewsHour