- Yum! Brands Inc (NYSE:YUM) unit KFC is temporarily closing a few South African outlets because of power outages.
- The brand would close some of its restaurants, with the others having limited availability, Bloomberg reported.
- The move comes after the power outage reached 200 days in 2022.
- South African state electricity provider Eskom Holdings SOC Ltd imposed the power cuts to stop grid collapse.
- Eskom supplies about 90% of South Africa’s electricity.
- The electric utility has mounted huge debt and was awarded government bailouts.
- KFC has about 750 outlets in South Africa.
- Also Read: Pizza Hut Parent Yum! Brands Clocks 2% Top-Line Growth
- Price Action: YUM shares closed higher by 0.78% at $129.90 on Tuesday.
- Photo Via Wikimedia Commons
Brink’s Acquires NoteMachine For ~$179M
The Brink's Company (NYSE:BCO) today announced its acquisition of NoteMachine, one of the leading ATM networks in the United Kingdom, for approximately $179 million or 5.0 times adjusted EBITDA. For the
