Yum Brands is selling Pizza Hut in a deal valued at $2.7 billion. The sale involves a split of the business, with LongRange Capital acquiring the rights to Pizza Hut locations outside of China for approximately $1.5 billion. Separately, Yum China will purchase the Pizza Hut business operating within China for around $1.2 billion. This divestment marks a significant change for Yum Brands, one of the largest fast-food companies globally, as it sheds one of its most recognizable brands. The transactions are expected to allow both LongRange Capital and Yum China to focus on growth within their respective markets. Financial details suggest a strategic realignment for Yum Brands, potentially focusing on other brands within its portfolio. The deal’s completion is subject to standard closing conditions.