Bank Of America Eyes $800 Million For Pizza Hut Franchisee Stake

According to India’s Economic Times, ” Bank of America, which is selling assets to raise capital, is in exclusive talks to divest its stake in the biggest US Pizza Hut franchisee for more than $800 million, said two people with knowledge of the discussions.”

“Two private-equity firms teamed up to bid for NPC International, which operates 1,140 Pizza Hut restaurants, said the people, who declined to be identified as the talks are confidential. One hurdle in closing the transaction is arranging debt financing for Overland Park, Kansas-based NPC as credit markets for buyouts tighten, the people said.”