Dec 7 (Reuters) – Madrid-based restaurant operator AmRest (EATP.WA) mentioned on Tuesday it agreed to promote its KFC restaurant enterprise in Russia for at the least 100 million euros ($104.48 million) to Russian restaurant and leisure firm Almira.
AmRest follows a whole bunch of Western firms which have both withdrawn, bought or closed down operations in Russia for the reason that invasion of Ukraine in February.
The corporate mentioned the sale won’t require additional impairments than those booked within the accounting interval ending in June.
Earlier than the Ukrainian disaster, Russia was one of many essential markets for the restaurant operator.
Reporting by Jakub Olesiuk; Enhancing by Inti Landauro, Enhancing by Louise Heavens
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