AmRest sells La Tagliatella to the KFC restaurant chain in Russia for 100 million

Restoration group AmRest He (the owner of brands such as La Tagliatella) announced on Wednesday the sale of his chain of 217 Kentucky Fried Chicken restaurants that he owned in Russia for 100 million euros To the local company Almira OOO linked to the local financial sector and also with a presence in the restaurant business, it was announced in a statement sent to the National Authority for the Stock Market (CNMV).

The transaction you indicated is subject to Permission from the Russian competition authorities and “With the approval of Yum! Brands Inc” (which owns KFC, Pizza Hut, Taco Bell, and others).

Likewise, the process is waiting for other “external factors” such as the exchange rate of the euro with the ruble, and its movement justifies the deterioration recorded by its business in the Russian lands in recent months due to the outbreak of the conflict. with Ukraine.

in this meaning, It excluded “additional adjustments” in its financial statements After those who have already transferred their results to June 30 this year.

AmRest was until May of this year Pizza Hut chain of restaurants in Russia (already sold to a local operator) and 217 KFC outlet from which he is now separated. The assets located on Russian soil did not constitute a relevant part of the Company’s business.

Specifically, the “Condensed Consolidated Financial Statements” report “as of June 30, 2022” for the multinational corporation, indicates that on the aforementioned date Russia filed Revenues of 129 million euros Compared to 84.2 million in the first half of the previous year. In addition to Ebitda as of June 30 of this year with a value of 27.1 million, although in the same period it recorded net losses of Impairment of assets amounting to 54.7 million euros. The capital investment for the purchase of materials and infrastructure amounted to 2.7 million euros.

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