Priszm Sells Off Half Of Its Restaurants

Ottawa Citizen:

Priszm Income Fund announced Monday it was selling roughly half of its fast-food outlets, divesting 232 restaurants in Ontario and British Columbia for about $46.4 million.

Toronto-based Priszm, which indirectly operates KFC, Taco Bell and Pizza Hut restaurants in Canada, is being sold to the numbered company 7716443 Canada Inc., an entity controlled by a European franchisee of Yum! Restaurants International.

John Bitove, executive chairman of Priszm Income Fund, did not comment on the deal. Read more.