AmRest continues Russian expansion

WSE-listed restaurants operator AmRest signed a master franchisee deal for Pizza Hut's operations in Russia and to acquire 18 Pizza Hut restaurants in the country, AmRest said in a market filing. “As a result of the planned transaction, AmRest's subsidiary will become the master-franchisee for 36 restaurants currently operated in Russia, and will have the right to grant sub-franchising licenses to third parties,” the filing said. The price will depend on the outcome of the planned due diligence. The sides intend to close and finalize both the master-franchise and the acquisition agreements by September 30, 2017. AmRest has previously secured Pizza Hut master-franchise rights to several CEE markets, France and Germany.