Yum China buyout on back burner [Reuters]
Yum China Holdings, Inc. (YUMC)
Last yum china holdings, inc. earnings: 4/28 04:30 pm
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Source: Reuters
Yum China buyout on back burner | Reuters 5 Min Read * Loans: Rejected offer dashes hopes for record Asian leveraged financing By Prakash Chakravarti and Chien Mi Wong HONG KONG, Aug 31 (LPC) - The rejection of a US$17.6bn bid for fast-food group Yum China Holdings has dealt a blow to Asia’s leveraged finance market, which had been eyeing a big payday from China’s biggest private equity buyout. Yum China last week rejected a mooted offer of US$46 a share from a consortium led by Chinese investment firm Hillhouse Capital Group. A formal bid would have valued the New York listed operator of KFC, Pizza Hut and Taco Bell brands in China at 13x Ebitda. Lenders were considering providing up to US$8bn of debt, including a senior loan of around US$6.5bn–$7.0bn and a mezzanine financing of US$1.0bn–$1.5bn, although the Hillhouse consortium had not mandated any banks. A US$8bn debt deal for Yum China would have represented leverage of around 6x, with the senior portion accounting for 4.8x–5.2x.
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YUMC
Earnings
- 2/6/24 - Beat
YUMC
Sec Filings
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- YUMC's page on the SEC website