Smart Service Ltd. entered into a share and purchase agreement to acquire Russian KFC Business from Yum! Brands, Inc. (NYSE:YUM) for €100 million on October 24, 2022. Smart Service Ltd. will be responsible for rebranding locations to a non-Yum!

concept and for retaining the employees in Russia. The transaction is subject to regulatory and government approvals, as well as other conditions agreed. As of November 25, 2022, Federal Antimonopoly Service has approved the transaction.

After the completion of transaction, Yum! brands will cease its presence in Russia. The transaction is expected to closed by the end of 2022.