Yum! Brands, Inc. (NYSE:YUM), parent company of Taco Bell, KFC, and Pizza Hut has finalized the separation of its China Business, Yum China Holdings Inc (NYSE:YUMC), the company reported Tuesday. Yum China will begin trading on the New York Stock Exchange under the ticker “YUMC” as of today.
“The successful separation of Yum China marks a major milestone in Yum! Brands’ history,” said Greg Creed, Chief Executive Officer of Yum! Brands, in an announcement. “We’ve established two powerful, independent companies that are each well capitalized with long runways for growth and value creation.”
Yum China will be a licensee of Yum Brands on the China mainland. Yum Brands has over 43,000 restaurants in over 150 countries while Yum China has over 7,000 locations in over 1,100 cities.