The Clap
Yum Brands (NYSE: YUM), an owner of brands like Pizza Hut, KFC, & Taco Bell to name a few, wants to sell its KFC franchise in Russia.
The Deets
Yum Brands has around 1,000 KFC restaurants in Russia, & is in advanced talks with a local buyer to sell them.
The company has already sold its Pizza Hut stores to a local operator who is set to rebrand them. The same thing happened with McDonald’s, & will likely happen with KFC.
Why this Matters
Russia is in the process of imposing a law that would penalize foreign companies exiting Russia. Therefore, Western countries are scrambling to exit Russia before they incur any charges.
