April 25, 2017 / 6:31 AM / 8 months ago

BRIEF-AmRest Holdings signs prelim. agreement with Pizza Hut in Russia

April 25 (Reuters) - AmRest Holdings SE:

* Signs biding head of terms with Pizza Hut Europe Sarl US Branch, Yum Restaurants International Russia and CIS LLC

* Under this agreement the company’s unit would become Pizza Hut master franchisee for Russia and acquire 18 Pizza Hut restaurants

* As a result of the transaction the company’s unit will become master-franchisee for 36 restaurants currently operated by multiple sub-franchisees in Russia

* The company’s unit would have the right to grant the license to the third parties to operate Pizza Hut restaurants

* The purchase agreements shall be signed and closed no later than Sept. 30 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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