Yum Brands Inc (YUM.N) has found buyers for its Long John Silver's and A&W restaurant chains, the world's second-biggest fast-food company said on Thursday. Yum said it does not expect the deals to have a material impact on its ongoing earnings or cash flow. Both transactions are expected to close in the fourth quarter. The Louisville, Kentucky-based company said Long John Silver's will be acquired by LJS Partners LLC, which it said was formed by a consortium of franchisee leaders and other investors. A&W's buyer is A Great American Brand LLC. Yum said that group was formed by a franchisee leader with substantial interests in international A&W restaurants and the National A&W Franchisees Association, representing U.S. A&W restaurant operators.
YUM! Brands, Inc. (YUM) is a quick service restaurant (QSR) company, with more than 37,000 units in more than 110 countries and territories. Shares of YUM fell by 3.6% or $-1.89/share to $50.66. In the past year, the shares have traded as low as $45.71 and as high as $57.75. On average, 4508940 shares of YUM exchange hands on a given day and today's volume is recorded at 4600362.
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