Acquisition by Issuer's subsidiary of shares in Shoe Express S.A.

(Current report No. 11/2018)

 25.04.2018 /Emitent/

Legal basis:
Art. 17 ust. 1 MAR - inside information

 
The management board of CCC S.A. ("Issuer ") informs, further to current report No 66/2017 of 22 December 2017, that on 25 April 2018 roku the Issuer entered into an agreement for acquisition, through its subsidiary CCC Shoes & Bags Sp. z o.o. with seat in Polkowice, of 100% shares in Shoe Express S.A. , a company with its seat in Bucharest („Company”). Shoe Express S.A. has been previously purchased from Peeraj Brands International SRL an organized part of business comprising all retail outlets operating under the CCC brand in Romania. Previously the outlets have been operated by Peeraj Brands International SRL under a franchise agreement with the Issuer. Total value of the transaction is 33 mln EUR before taking into account working capital adjustments to be made within a specified period following the transaction. The agreement contains customary provisions, including provisions on seller's representations, liability of the parties and post – completion adjustments referred to above. The Romanian competition authority has issued its non-objection decision in relation to the transaction. Completion of the transaction and transfer of shares in the Company has occurred on the date of signing, i.e. 25 April 2018.