Taiwan's Uni-President Enterprises is in advanced talks to buy Jardine Restaurant Group for about $400 million, Reuters reported.

Jardine Restaurant Group runs about 1,000 KFC and Pizza Hut outlets in Asia.

It operates in Hong Kong, Macau, Myanmar, Taiwan and Vietnam, and employs about 25,000 people.

It also owns PHD, a pizza delivery and takeout chain in Hong Kong.

The unit earns $35 million to $40 million a year in EBITDA, so the price is about 10 to 11 times that.

It is the fast-food arm of Jardine Matheson, the Hong Kong trading group, which has not commented.

Uni-President is better known in Taiwan for noodles, drinks and packaged foods.

The KFC and Pizza Hut brands belong to Yum! Brands. Jardine holds the franchise rights in its markets.

In May, Carlyle and Yum China were among the parties looking at the unit. Neither deal went ahead.

No agreement has been announced yet, and the talks could still fall through.

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