AmRest sells its KFC restaurant business in Russia for 100 million euros

Dec 7 (Reuters) – Madrid-based restaurant operator AmRest (EATP.WA) said on Tuesday it agreed to sell its KFC restaurant business in Russia for at least 100 million euros ($104.48 million). To Russian restaurant and entertainment company Almira.

AmRest has tracked hundreds of Western companies withdrawing, selling or closing operations in Russia since the February invasion of Ukraine.

The company said no further impairment was required for the sale compared to the impairment recorded in the accounting period to June.

Before the Ukraine crisis, Russia was one of the restaurant operator’s main markets.

Reporting by Jakub Olesiuk; Editing by Inti Landauro and Louise Heavens

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