Yum Brands officially spins off China unit
Yum Brands, the company behind fast-food outlets KFC, Taco Bell and Pizza Hut, will begin trading on the New York Stock Exchange after formally completing the separation from Yum China, which will now become a licensee of Yum Brands. The latter company has 43,000 restaurants in 135 countries, but faces a challenging future, as many of its brands are not seen as aspirational, while the rise of food delivery apps has put added pressure on what is already a crowded marketplace.

Yum Brands , the parent company of KFC, Pizza Hut, and Taco Bell, completed the separation of its China business, Yum China, the company said on Tuesday.

Yum China will begin trading on the New York Stock Exchange today under the ticker "YUMC."

"The successful separation of Yum China marks a major milestone in Yum! Brands' history," said Greg Creed, Chief Executive Officer of Yum! Brands, in a release. "We've established two powerful, independent companies that are each well capitalized with long runways for growth and value creation."

As part of the separation, Yum China will be a licensee of Yum Brands on the China mainland.

Yum Brands consists on nearly 43,000 restaurants in 135 countries while Yum China has more than 7,300 locations in more than 1,100 cities.

Correction: This article has been updated to reflect the number of countries Yum Brands has restaurants in.