Atria: Sold its fast food business in Russia - Nordea

Atria has sold its fast food business Sibylla Rus LLC to Agricultural Complex Mikhailovskiy, which is part of the Cherkizovo Group. The sales price is approximately EUR 8m. The transaction does not include the Sibylla trademark. Atria will record a capital gain of approximately EUR 2m from the divestment. We had anticipated EUR 3m loss from the divestment. In addition, a translation loss of approximately EUR 10m is recorded from the transaction. To our understanding, translation loss does not have impact on Atria’s equity or cash flows as it has been booked earlier through comprehensive income.

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