Yum China Holdings on Tuesday said it has partnered with Sinopec Corp and China ...
SHANGHAI, March 12 (Reuters) - Yum China Holdings on Tuesday said it has partnered with Sinopec Corp and China National Petroleum Corporation (CNPC) to open more than 100 franchise restaurants at the oil giants’ gas stations in China.
Yum China said the partnership aims to open the franchise stores over the next three years, adding that Sinopec and CNPC collectively operate over 50,000 gas stations in the country.
It did not disclose financial details of the tie-up, which it announced at its investor day held in Shanghai on Tuesday. (Reporting by Brenda Goh; Editing by Himani Sarkar)