AmRest signs framework agreement to buy 42 French KFCs

WSE-listed restaurant operator AmRest has signed a framework agreement with KFC France to buy 42 of its restaurants for €39.9 million. Estimated revenues of the restaurants in the twelve months period ended on April 30th, 2017 amounted to €99 million. “The Completion is contingent upon some additional conditions, such as concluding additional agreements ensuring restaurants proper functioning after Completion, and lack of the material adverse change,” AmRest said in a market filing. Earlier this year, AmRest acquired 15 KFC restaurants in Germany for €10.28 million.