The sale of Yum Brands’ China franchise, a disposal once expected to fetch more than $10bn, has come to a standstill after clashes on price with the two main bidders.
China-based private equity fund Primavera and Singapore wealth fund Temasek, understood to be two of the primary bidders for the franchise that includes more than 7,200 KFC and Pizza Hut outlets, both submitted offers for at least part of the fast-food assets.
Primavera offered $2bn for part of the franchise, people briefed on the talks said.
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