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EG Group has announced that it has entered into a definitive agreement to sell all of its 218 KFC franchise restaurants in the UK and Ireland to Yum! Brands’ KFC Division. The transaction agreed by EG Group – the largest KFC franchisee in the UK and Ireland – is an additional step in the company’s strategy to reduce its debt. The sale is expected to complete in the first half of 2024. Zuber Issa and Mohsin Issa, co-founders and co-CEOs of EG Group, said: “We are proud to have been a strategic partner of KFC in the UK and Ireland, playing an important role in helping the brand expand its footprint. Now is the right time to hand the baton to the KFC leadership team to continue to grow the brand in the UK and Ireland.” They continued: “This is the latest transaction in our significant deleveraging this year to put in place a sustainable capital structure for the group... We continue to make good progress against our key strategic priorities – delivering a world-class grocery and merchandise, food service and fuel proposition across nine markets globally.” EG Group continues to operate in the USA, Australia, the EU and the UK, including its wholly-owned bakery business, Cooplands, as well as franchise businesses such as Starbucks, Subway and Greggs.