Yum to Buy 20 Percent Stake in Little Sheep
ZUMA Press Inc 2009-03-26 21:05:22
Mar 24, 2009 - Shanghai, China - U.S. fast food giant Yum! Brands will pay USD 63 million for a 20% stake in the Chinese hot pot restaurant chain Little Sheep Group. Hong Kong-listed Little Sheep said Yum! will buy a 13.92% stake currently held by private equity firms 3i Group and Prax Capital Management at HK$2.40 (USD 0.31) per share. The price represents an 8.4% discount to Little Sheeps closing price of HK$2.62 (USD 0.34). Yum! will buy an additional 6.07% stake from the Chinese firms controlling shareholders, also at HK$2.40 (USD 0.31) per share. PICTURED: A man is seen at the Yum! Brands In. China Restaurant Support Center in Shanghai, 4 September 2007
Copyright 2009 ZUMA Press Inc
