Pizza Hut Korea to transfer operations to PE-backed entity

Pizza Hut’s Korean unit, currently under court-led rehabilitation, is moving to sell its business rights to a newly formed private-equity-backed vehicle in a bid to preserve the brand while containing its debt burden. According to industry sources on Friday, local private equity firms Kclavis Investment and Winter Gold have formed a new entity, PH Korea, to acquire the operating rights of Pizza Hut’s Korean business for 11 billion won ($7.6 million). The deal followed a court-supervised process