Brands, Inc. announced that it had completed the separation of Yum China Holdings, Inc. from Yum! Brands stockholder has received one share of Yum China common stock for each share of Yum! Instead, the distribution agent will aggregate fractional shares of Yum China common stock and sell the whole shares in the open market. The total net cash proceeds of the sales will be distributed to those shareholders who would have received fractional shares of Yum China common stock. With the separation of the China business complete, Yum China Holdings, Inc. is a licensee of Yum!
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