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HomeEconomyPolish AmRest Sells Its Share of KFC Restaurants in Russia

Polish AmRest Sells Its Share of KFC Restaurants in Russia

Date: February 5, 2023 Time: 00:31:53

Polish AmRest, Which Owns a Fifth of KFC Restaurants in Russia, Will Sell Them to Almira

AmRest, or “American Rest,” has sold its stake in KFC restaurants’ Russian branches to Almira, which means they’ll receive at least 100 million euros.

“AmRest Group, a leading European restaurant owner, has announced that they are exiting the Russian market with their KFC restaurant business. AmRest expects to be getting at least 100 million euros in compensation for this sale,” the companies say.

The completion of a transaction such as this is contingent on the approval of the Antimonopoly Agency of Russia, and consent from YUM! Brands Inc. and other regulatory approvals that may be applicable in Russia.

It is important to remember that in the event of the acquisition, there are still other things that may change. The company will explain these changes with the final terms before any proceeding.

AmRest will not add any other adjustments to the purchase price of the Russian business after recognizing the impairment as of June 30, 2022.

KFC has been present in Russia since 2007 and currently operates 215 KFC restaurants.

Kevin Kennedy
Kevin Kennedy
Kevin Kennedy is an associate editor for ePrimefeed covering latest news, economy and movie.
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