AmRest : RB 4 2020 Final settlement of the agreement with Glovoapp23 S.L.
January 24, 2020 at 07:05 pm
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With reference to the relevant fact 281212 / regulatory announcement RB 24/2019 dated August 13th, 2019 AmRest Holdings, SE ('AmRest') announces satisfaction of all conditions envisaged by the agreement concluded with Glovoapp23 S.L. ('Glovo') on August 13, 2019 ('Agreement') and final settlement of the transaction.
In consideration for the transfer of 100% of shares in Restaurant Partner Polska Sp. z o.o. ('PizzaPortal') AmRest received total sale price in the amount of EUR 35 million, as a combination of cash payment of EUR 20 million and newly issued shares of Glovo, which constitutes final settlement of the Agreement.
As a result of the abovementioned transaction AmRest currently holds 7.5% stake in Glovo's share capital. (non-diluted).
Glovo is one of Europe's leading platform for online ordering and delivery of food and other consumer goods. Currently Glovo has more than 5.5 million users and 16,000 associated partners. It is present in 202 cities across 26 countries in EEMEA, LATAM, and most recently, sub-Saharan Africa.
Legal act:
Art. 17 Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and of The Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC
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AmRest Holdings SE published this content on 24 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2020 19:04:00 UTC
Amrest Holdings SE is a Spain-based company active in the restaurants and bars sector. The Companyâs core activity is operating Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks restaurants through its subsidiaries in Poland, the Czech Republic, Hungary, the Russian Federation, Serbia, Croatia, Bulgaria, Spain and France, on the basis of franchises granted, and Applebeeâs in the United States. Additionally, in Spain and France the Company operates its own brands La Tagiatella, Trastevere and il Pastificcio. It also operates PizzaPortal.pl, an online portal for ordering food from various restaurants. The Company operates through subsidiaries, such as AmRest Sp z o o, AmRest sro, AmRest doo, AmRest Adria doo, Blue Horizon Hospitality Group PTE, AmRest TAG SL, SC Marinopoulos Coffee Company III Srl and Marinopoulos Coffee Company Bulgaria EOOD, among others.