China is leading an investment group that wants to buy the Chinese operations of Yum Brands, according to a report by Bloomberg News.
The investment consortium also includes the U.S. financing giant KKR & Co. and an Asian-focused company, Baring Private Equity Asia, the news service reported.
The intended buyers are led by China Investment Fund, an extension of the nation itself.
Bloomberg cited two other suitors for Yum’s Chinese operations: Temasek Holdings Pte and Primavera Capital Ltd.
Yum’s Chinese operations encompass 7,100 KFC, Pizza Hut and Taco Bell restaurants. The Louisville, Ky.-based franchising giant wants to spin off that portion of the business to realize the growth potential and stronger performance of its brands elsewhere.