Bank of America Said to Seek $800 Million in Sale of Pizza Hut Franchise

http://www.bloomberg.com/news/2011-09-22/bank-of-america-said-to-seek-800-million-in-sale-of-pizza-hut-franchise.html

Bank of America Corp. (BAC), the lender divesting assets to raise capital, is in exclusive talks to sell its stake in the biggest U.S. Pizza Hut franchisee for more than $800 million, said two people with knowledge of the discussions.

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