UBS: YUM CHINA Bids for Jardines HK KFC, Pizza Hut Biz; Sees Margin Upside and Faster APAC Expansion; Rates Yum China Holdings, Inc. Buy with TP USD67.6
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UBS reports that YUM CHINAis considering acquiring Jardine Matheson's restaurant business, which includes around 1,000 KFC and Pizza Hut stores in Asia. The deal could be valued at approximately USD400 million, with expected EBITDA contributions of USD35-40 million annually. UBS maintains a Buy rating on Yum China Holdings, Inc. with a target price of USD67.6, citing strong cash reserves and potential margin improvements from the acquisition.
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