Brief: Atria Sells Its Fast Food Business In Russia

Atria Oyj

16/05/2022 10:03

May 16 (Reuters) - Atria Oyj  ATRAV.HE :
    * ATRIA SOLD ITS FAST FOOD BUSINESS IN RUSSIA
    * HAS SOLD ITS FAST FOOD BUSINESS SIBYLLA RUS LLC TO LIMITED
LIABILITY COMPANY AGRICULTURAL COMPLEX MIKHAILOVSKIY, WHICH IS
PART OF CHERKIZOVO GROUP
    * SALES PRICE IS APPROXIMATELY EUR 8 MILLION. TRANSACTION
DOES NOT
INCLUDE SIBYLLA TRADEMARK
    * NET SALES OF FAST FOOD COMPANY OPERATING IN RUSSIA HAS
BEEN
APPROXIMATELY 2 PERCENT OF ATRIA GROUP'S TOTAL NET SALES AND
BUSINESS HAS BEEN PROFITABLE
    * ATRIA WILL RECORD A CAPITAL GAIN OF APPROXIMATELY EUR 2
MILLION
FROM DIVESTMENT
    * IN ADDITION, A TRANSLATION LOSS OF APPROXIMATELY EUR 10
MILLION
IS RECORDED FROM TRANSACTION
    * IN ADDITION, A TRANSLATION LOSS OF APPROXIMATELY EUR 10
MILLION
IS RECORDED FROM TRANSACTION
    * TRANSLATION LOSS IS RECOGNIZED IN EBIT, BUT IT HAS NO
EFFECT ON
GROUP'S EQUITY NOR CASH FLOW

Source text for Eikon:  ID:nWkr32ycYt 
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