AmRest wants to have 100 percent of Sfinks

29-08-2008, 15:24

AmRest confirms it wants to have full control over Sfinks. The process will take some time, however.

American Restaurants (AmRest), the operator of Pizza Hut, KFC or Burger King in Poland and neighboring countries, has recently bought 9 percent of Sfinks increasing its stake to 14 percent and announced a tender call to buy 11.2 percent of shares.

“Our intention is to gain full control over this company. If it was to us, the case would be made quickly. It’s not that easy, however. We have been trying to convince Sfinks shareholders to sell their stakes for some time already”, Wojciech Mroczynski, AmRest member of the board said.

He is sure that the tender call ending in the middle of September, will be successful and AmRest will have over 25 percent of Sfinks. Several brokerages, including ING Securities or Unicredit, evaluated the price offered by AmRest, PLN 19.41 (EUR 5.8), as attractive.

(PLN 1 = EUR 0.298)

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