RB 22/2006 Takeover of restaurants in Hungary
24-05-2006

The Management Board of AmRest Holdings N.V. informs that on May 24, 2006  AmRest Holdings N.V. – AmRest (Buyer) and Central European Franchise Group, Ltd – CEFG (Seller) signed the Share Purchase Agreement, according to which AmRest will buy from CEFG 100% of shares held in Kentucky Systems, Kft (KS), a limited liability company. Kentucky Systems, a company seated in Budapest, operates 13 Pizza Hut and 4 KFC restaurants in Hungary. The purchase price amounts to USD 6.500.000. The purchase transaction will be finalized by June 30, 2006
 
The closing of the Agreement is contingent upon the approval from YUM Restaurants International LLC, the franchisor of  Pizza Hut and KFC brands, and upon the approval of the CEFG minority shareholders representing 25% of shareholding in CEFG.
 
The conclusion of the Agreement is another important step in the realization of AmRest Group strategy to strengthen our position in Central and Eastern Europe. This acquisition also opens up an opportunity to develop the existing and new branded restaurant concepts in the Hungarian market.
 
 
Legal act:
RMF z dnia 19 października 2005 w sprawie informacji bieżących i okresowych przekazywanych przez emitentów papierów wartościowych – §5 ust. 1., pkt. 3.

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