BofA to Sell Pizza Hut Franchise

In an effort to shrink the Bank of America to its core business, Bank of America is selling its stake in Pizza Hut's largest franchise for more than $800 million. The franchisee, NPC International, is also one of the restaurant industry's largest.

Two private-equity firms 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 arranging debt financing for Overland Park, Kansas-based NPC as credit markets for buyouts tighten, the people said. - Bloomberg BusinessWeek