Yum Brands close to selling KFC business in Russia

Yum Brands Inc said on Tuesday it was in advanced talks to sell its KFC restaurants and franchise rights in Russia to a local buyer, after which it plans on fully exiting the country.

Western companies leaving Russia over the invasion of Ukraine have sped up the pace of their exits in recent weeks as Moscow is advancing a new law that would allow it to seize assets and impose criminal penalties on foreign firms. Yum Brands also said on Tuesday that it had completed the sale of its Pizza Hut business in Russia to a local operator who is re-branding the restaurants. The financial details of the sale were not disclosed.

rodger_stuckey Much success.

Pull all Western companies out of the Caucasus region.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘A dog’s breakfast’: Halifax business owner frustrated as Spring Garden closes to cars - Halifax | Globalnews.caAs of Monday, Spring Garden Road in Halifax from Queen Street to South Park Street is open only to buses, cyclists and pedestrians from 7 a.m. to 8 p.m. Montreal has become a bankrupt dump of a city under the new mayor First it’s car free then it’s people free Stupid idea!
Source: GlobalNational - 🏆 81. / 51 Read more »