The Carlyle Group Inc. (NasdaqGS:CG) made an offer to acquire 64.9% stake in KFC Holdings Japan, Ltd. (TSE:9873) from Mitsubishi Corporation (TSE:8058) and others for ¥94.5 billion on May 20, 2024. The transaction is expected to close on July 9, 2024.Carlyle was approached through KPMGFAS Ltd., Mitsubishi Corporation's financial advisor, and PwC Advisory LLC, KFC Asia Franchise Pte. Ltd.'s financial advisor.

Jesse Sheley, Jeffery Norman,Pierre-Luc Arsenault ,Maurice Conway, Min Wang, Manas Chandrashekar, Karen Ho,Mike Carew, Jodi Wu and Fergus Saurin of Kirkland & Ellis. acted as Legal advisor to the Carlyle Group. Steven Jeong of PricewaterhouseCoopers Korea, Financial Advisory Arm acted as Financial advisor to Mitsubishi Corporation.

PwC Advisory LLC acted as Financial advisor to Mitsubishi Corporation. Yoshiyuki Asaoka of Linklaters acted as Yum! Brands, Inc.