Msn:
Yum Brands Inc., owner of restaurant chains including Taco Bell and KFC, said Monday it will buy out Whitbread PLC’s stake in their 50-50 U.K. Pizza Hut joint venture for $183 million plus the assumption of $25 million in debt and liabilities.
The deal, which includes 541 restaurants in the U.K., is expected to close in the fourth quarter, pending regulatory approval and other customary closing conditions.
Yum said it will finance the purchase with additional debt. The company reaffirmed its 2006 earnings guidance of at least $2.83 per share. Analysts, on average, expects a profit of $2.84 per share, according to a Thomson Financial poll.
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