(Reuters) – Yum Brands Inc said on Tuesday it is in advanced talks to sell its KFC restaurants and franchise rights in Russia to a local buyer, after which the company plans to fully exit the country.
The company also said it had completed the sale of its Pizza Hut business to a local operator who is re-branding the restaurants.
Yum Brands in March joined a host of other Western brands in suspending all operations and investments in Russia following Moscow’s invasion of Ukraine.
(Reporting by Uday Sampath in Bengaluru; Editing by Aditya Soni)
