MOSCOW, Jul 5 (PRIME) -- Yum! Brands is in negotiations to sell the Russian KFC outlets to a local operator and leave the market, the company said in a statement on Tuesday.
"Last month, Yum! completed the transfer of ownership of all Pizza Hut franchise assets to a local operator who has initiated the process of re-branding locations to a non-Yum! concept. The Company is also in advanced stages of transferring ownership of its KFC restaurants, operating system and master franchise rights, including the network of franchised restaurants, to a local operator," the company said.
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