BRIEF-AmRest Holdings signs prelim. agreement with Pizza Hut Germany
March 28 AmRest Holdings SE:
* Said on Monday that it signed the binding head of terms determining conditions on which Yum Restaurants International Holding, Ltd and Pizza Hut Delivery Germany GmbH (PH Delivery) would be willing to proceed with a potential transaction with AmRest
* Under the agreement the company to become Pizza Hut master franchisee for Germany and acquire two Pizza Hut delivery stores in Dusseldorf
* As the result AmRest would become the master-franchisee for 74 restaurants currently operated by multiple sub-franchisees in the German market and would have the right to grant the license to the third parties to operate Pizza Hut restaurants
* Additionally the company would acquire 2 Pizza Hut delivery restaurants from PH Delivery
* The purchase agreement to be signed no later than May 30
Source text for Eikon:
Further company coverage: (Gdynia Newsroom)