RUSSIA BUSINESS UKRAINE CONFLICT SANCTIONS

KFC leaves Russia

epa10266969 A man walks in front of KFC fast food restaurant in Moscow, Russia, 26 October 2022. American holding Yum! Brands has begun the process of transferring the Russian business, including 70 KFC restaurants and the brand's master franchise, to a local partner. The new owner is obliged to gradually rebrand all 1,000 KFC establishments in Russia into Rostic's. The sale and purchase agreement was signed on October 24 with the Izhevsk franchisee, Smart Service LTD LLC. The amount of the transaction was not disclosed, but the final closing is expected at the end of 2022. EPA/MAXIM SHIPENKOV

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