PRESS: AmRest looking for new buyer for KFC, PizzaHut in Russia

MOSCOW, May 6 (PRIME) -- Restaurant holding AmRest was unable to sell its Russian business, managing the KFC and PizzaHut restaurant chains, to VTB Capital and is searching for a new buyer for the 267 outlets, business daily Kommersant reported late on Thursday citing sources, including a St.Petersburg restaurant owner who received an offer.

AmRest and VTB Capital reached an agreement on the sale before the start of special operation in Ukraine, but AmRest had to withdraw from the deal, because VTB was blacklisted by the E.U.

Infoline CEO Mikhail Burmistrov said that at the beginning of 2022, the business could have cost 5 billion rubles to 6 billion rubles, but now it costs 30% less or even 50% less with the risk of a franchise recall.

(66.2378 rubles – U.S. $1)

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