With reference to the regulatory announcement RB 41/2018 dated July 25th, 2018 and RB 45/2018 dated July 27th, 201AmRest Holdings SE (“AmRest”, the “Company”) announces the completion (the “Completion”) on October 31st, 2018 of the Share Purchase Agreement (“SPA”) signed on July 27th, 2018 with Mr. Grégory Marciano, Naxicap Partners SA and remaining sellers (jointly “Sellers”) aimed at the acquisition by AmRest of 100% shares in Sushi Shop Group SAS (“Sushi Shop”).
As a result of the Completion AmRest became an owner of the leading European chain of Japanese cuisine restaurants comprising of 165 stores, of which about one third are restaurants run by franchisees.
Estimated purchase price for 100% shares in Sushi Shop at the day of Completion amounted to approx. EUR 164 million, with the Enterprise Value equal EUR 240 million. Additionally, an amount of up to EUR 10 million (earn-out) may be paid to the Sellers upon Sushi Shop reaching certain financial KPI’s for 2018.
All the approvals and conditions the Completion was contingent upon in accordance with the SPA have been obtained and fulfilled.
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