AmRest bites into Sfinks

Restaurant operator AmRest forked out zł.16.2 million to acquire a 9.1 percent stake in a smaller rival Sfinks on Friday in order to boost its stake in the company.

During the transaction AmRest Polska, which operates fast food restaurants such as Burger Kind and KFC in Poland, gained 836,000 company shares in Sfinks. It currently possesses 14 percent of Sfink's shares and with the acquisition, AmRest raised its stake to 23.1 percent

Initially, the company wanted to buy 1.04 million shares in Sfinks at zł.19.41, however, AmRest doesn't exclude that it will reach its desired stake of 25.5 percent.

Sources: TVN CNBC