Struggling Pizza Hut restaurant chain will be sold for $2.7 billion (opens original article in a new tab)

The struggling Pizza Hut restaurant chain will be sold for $2.7 billion by parent company Yum Brands to private equity firm LongRange Capital and Yum China Holdings Inc.

• Yum Brands will sell Pizza Hut for $2.7 billion to LongRange Capital and Yum China Holdings Inc.
• Pizza Hut has faced challenges including outdated stores and declining sales at comparable stores.
• The sale includes the mainland China business purchased by Yum China for $1.2 billion.