RB 38/2012 Completion of sale of operating assets of AmRest, LLC to Apple American Group II, LLC
10-10-2012

With reference to the announcement RB 16/2012 of 7 June 2012, the Management Board of AmRest Holding SE (“AmRest”, or ”the Company”) informs about completion (“Closing”) on 10 October 2012 of the sale of substantially all of the operating assets of AmRest LLC (“Seller”), a 100% subsidiary of AmRest, to Apple American Group II, LLC (“Buyer”). On Closing, Seller transferred to Buyer the operating assets of 97 Applebee’s restaurants (“Restaurants”). In addition to three restaurants initially excluded from the transaction, the transfer of two other restaurants has been delayed pursuant to the provisions of the Agreement for the Purchase and Sale of Assets, dated June 7, 2012, as further (the “Purchase Agreement”), pending receipt of landlords’ consents for the assignment of the underlying leases to Buyer.
The consideration received by Seller for the transferred Restaurants amounted to $91,6 million inclusive of inventory value, assumed liabilities, proration of expenses, and price adjustments pursuant to the Purchase Agreement. An additional purchase price of $3,2 million is payable by Buyer to Seller upon completion of the sale of the 2 delayed restaurants.
In accordance with the Purchase Agreement the Company acting as the guarantor deposited $4 million at Closing into an escrow account as security for potential future claims of Buyer. The escrow funds balance will be released to the Company 24 months after the date of Closing.
All conditions precedent and approvals required under the Purchase Agreement with respect to the transferred Restaurants, including in particular receipt of consent of the franchisor, landlords and the Supervisory Board of the Company, have been fulfilled and satisfied.
Legal act: Art. 56 Sec. 1 Point 2 Act on public offering and conditions of introducing financial instruments to the organized trading system and on public companies dated July 29th 2005

Add widget
This widget is already in use...
Newsletter. Stay Informed.
This widget is already in use...
Number of restaurants AmRest network:
0
0
0
This widget is already in use...
Invest in AmRest:
Price of shares: dsdsdsd
This widget is already in use...
EBITDA 2018 Q4
49 321K EUR
This widget is already in use...
Q1 2019 AmRest Consolidated and Standalone Report
This widget is already in use...
Presentation - AmRest Q1 2019 Investor Teleconference
This widget is already in use...

09.05.2019

Press Release - AmRest Q1 2019 Financial Results
This widget is already in use...
Download AmRest Fact Sheet Download
This widget is already in use...
This widget is already in use...
This widget is already in use...
Upcoming events See the calendar
  1. You can choose widgets and their location by dragg and drop them to this area.

    You can place three widgets here, from which you plan to use most often.

    Next tip
  2. You can choose widgets and their location by dragg and drop them to this area.

    Here you can put up three more widgets.

    Next tip
  3. Click the button below to see what widgets have prepared for you.

    Drag the widget you are interested to one of the previously mentioned areas (under the side menu or at the bottom of the site).

    We wish you a pleasant use of the site!

    Close tips