Tricon Not Bidding for Burger King, Eyes Asian Concept

Louisville, Kentucky--Tricon Global Restaurants Inc., operator of the KFC, Pizza Hut and Taco Bell chains, is not bidding for Burger King, the company has said. Burger King is being auctioned off by its UK parent Diageo Plc, and at least five private investment firms are believed to have submitted bids (see "Burger King Franchisees Work With Texas Pacific on Bid").

Tricon said that it is interested in adding an Asian concept to its current restaurant portfolio, which includes the newly acquired Long John Silver's seafood chain and A&W (see "Tricon to Acquire A&W and Long John Silver's"). -Reuters