RB 13/2022 Agreement to sale the business in Russia
AmRest Holdings, SE (“AmRest” or the “Group”), pursuant to the provisions of Article 226 of the restated text of the Securities Market Law, issues the statement of inside information concerning an agreement to sale the whole business in Russia.
AmRest, through its subsidiaries AmRest Sp. z o.o. and AmRest Acquisition Limited, has entered today (i.e. 6 December 2022) into a share purchase agreement with Almira OOO, for the sale of its KFC restaurant business in Russia (the "Transaction"). The closing of the Transaction is subject to the approval by competition authority in Russia, the consent by Yum! Brands Inc. and to other regulatory authorizations that may be applicable in Russia.
As of today, and according to the terms of the share purchase agreement, AmRest expects to receive a minimum of 100,000,000 euros for the Transaction.
The final terms of the Transaction, which are subject to certain external factors, including exchange rate, will be communicated if the Transaction is closed. Nevertheless, AmRest estimates that after recognition of the impairment of the Russian business in the consolidated financial statements as of June 30, 2022, the completion of the Transaction should not require further adjustments.
Legal act: 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