AmRest follows hundreds of Western companies which have either withdrawn, sold or closed down operations in Russia since the invasion of Ukraine in February.

The company said the sale will not require further impairments than the ones booked in the accounting period ending in June.

Before the Ukrainian crisis, Russia was one of the main markets for the restaurant operator.

(Reporting by Jakub Olesiuk; Editing by Inti Landauro, Editing by Louise Heavens)