AmRest to takeover Pizza Hut's business for Germany

WSE-listed restaurants operator AmRest signed a preliminary agreement to become Pizza Hut's master franchisee for Germany and to acquire two Pizza Hut delivery stores in Düsseldorf, AmRest said in a market filing. “As a result of the planned transaction, AmRest would become the master-franchisee for 74 restaurants currently operated by multiple sub-franchisees on the German market, and would 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 finalize the agreement by May 30, 2017. AmRest is already a master franchisee in several CEE countries and in France.