AmRest to sell KFC business in Russia for €100 million
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The European restaurant operator AmRest has agreed to sell the KFC business in Russia to a local company Almira LLC. The amount of the transaction will be at least €100 million, the agreement will have to be approved by the Federal Antimonopoly Service and the American Yum! Brands, which owns the KFC brand.
“According to AmRest, after the recognition of the impairment of the Russian business in the consolidated financial statements as of June 30, 2022, the completion of the transaction will not require additional adjustments,” the press release states. website operator.
AmRest currently operates 215 KFC locations in Russia. Back in May AmRest tried to sell its Russian division, which manages KFC and Pizza Hut restaurants in the country, to the VTB Capital investment fund, however, according to Kommersant, the deal fell through due to sanctions against VTB.
About the departure of the owner of the KFC brand from the Russian market – in the material “Kommersant” “Nuggets without Russian roasting”.
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