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People's Daily Online>>China Business

China’s Little Sheep delists in HK

By Sun Chaoyi (Beijing Daily)

14:28, February 03, 2012

Edited and Translated by Han Shasha, People's Daily Online

On Feb. 2, 2012, Hong Kong-listed Mongolian hot pot brand Little Sheep Group Ltd quit the stock market and was acquired by Yum! Brands Inc.

Founded in August 1999, Little Sheep Group Ltd is one of China’s biggest restaurant chains that specializes in mutton hotpots. It went public in Hong Kong in 1998 and raised more than 460 million HK dollars through the initial public offering.

In the past three years, Little Sheep doubled its restaurant chains with the capital from the stock market. As of the end of 2011, it has 192 regular chains and 277 franchised outlets.

Yum! Brands Inc announced last May that it had submitted the acquisition to Little Sheep’s board of directors to get 93.2 percent of its holdings at a price of HK$6.5 a share. The deal won final approval from the Ministry of Commerce on Nov. 7, 2011.

Yum! Brands Inc is the owner of several fast-food chains including KFC and Pizza Hut.

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