Yum Brands to Work With Russian Chain
Yum Brands Inc. Chairman David Novak intends to announce plans today to work with Rostik Restaurants Ltd., one of Russia’s biggest restaurant chains, after a newspaper reported that Yum might buy a stake in one of Rostik’s units.
Novak and Rostik Restaurant’s Chairman Rostislav Ordovsky-Tanayevsky Blanco will “announce plans for cooperation between the two companies in Russia and [elsewhere in] the former Soviet Union,” the companies said in a statement.
Yum, the operator of Taco Bell, Pizza Hut and KFC restaurants, may buy 45% of Rostik Restaurants’ chain of chicken outlets, the Moscow daily Kommersant reported.
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