Yum! Brands (YUM) has finally split itself into two companies. In a move initially announced last year, Yum! China is now an independent company having been spun off on Nov. 1 via a listing on the New York Stock Exchange. The new spinoff's shares trade under the ticker. Shares of Yum! China (YUMC) were up slightly in early trading on Tuesday. "I have learned patience, I have learned that it's all about teamwork and having great leaders -- you can't have people taking their eyes off the business," Yum! Brands CEO Greg Creed told TheStreet in an interview about the process of creating two separate restaurant giants. Creed added, "I had no idea what it was going to be like when we undertook it, and I think having done it once I would like to check the box and never have to do it again -- it's just a massive undertaking." Yum! China will hold exclusive rights to use the KFC, Pizza Hut and Taco Bell brands in China, with the opportunity to add or launch new brands in China on its own. Yum! China will pay Yum! Brands a license fee of 3% of its sales at KFC, Pizza Hut and Taco Bell in China. Over time, Yum! China expects to have more than 20,000 restaurants in operation, up from about 7,000 today. As for Yum! Brands, it foresees some meaty profits in the years ahead after this operational overhaul. Yum! Brands expects earnings of $3.75 a share by 2019, up from about $2.92 a share in 2015, as it pushes aggressively to open new locations, remodel older restaurants and improve its digital ordering capabilities. TheStreet's Brian Sozzi has all the details on Yum! Brands' separation from the New York Stock Exchange.
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