Bank of America Corp. has agreed to sell the biggest U.S. Pizza Hut franchisee to a company formed by Olympus Partners as Chief Executive Officer Brian T. Moynihan narrows the focus of the lender.
The debt of Charlotte, North Carolina-based Bank of America’s NPC International Inc. will be repaid by the purchaser at the completion of the deal, which is expected by Dec. 28, according to a regulatory filing today from NPC.
Moynihan is focusing on retail and commercial banking customers while scaling back operations acquired under his predecessor, Kenneth D. Lewis. Read more.