Management Board of AmRest Holdings SE (“AmRest”, “the Company”) announces signing on June 5th, 2017 an Agreement granting an option to enter into a Share Purchase Agreement (the “Option”) between OOO AmRest (AmRest Russia), being 100% subsidiary of AmRest, and Svetlana Mikhailovna Popova aimed at acquisition by AmRest Russia of 21 KFC restaurants operating in the Russian market (“KFC Business”).
The purchase price will be determined as at the day of the transaction closing.
Estimated revenues of the KFC Business in the year 2016 amounted to RUB 1 376 million (ca. PLN 98 million).
The parties of the Option intend to sign the Share Purchase Agreement and, consequently, close the transaction within next couple of months (“Completion”). The Completion is contingent upon some additional conditions, including obtaining antitrust approvals, concluding additional agreements ensuring restaurants proper functioning after Completion, and lack of the material adverse change (“MAC”).
In the opinion of the Management Board the transaction is a great opportunity to strengthen AmRest presence in Russia, where the Company currently operates 120 KFC restaurants.
Art. 17 Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and of The Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC