Little Sheep Group Ltd, operator of a hot-pot restaurant chain in China, said on Tuesday that the Chinese Ministry of Commerce had given the green light to a takeover bid by Yum! Brands Inc on Monday.
Yum! Brands, owner of the KFC and Pizza Hut fast-food chains, which holds a 27.2 percent stake in the Hongkong-listed Little Sheep, will extend its shares to 93.22 percent at a price of HKD 6.5 (USD0.84) for each share.
(Source: Shanghai Daily )