The CCC Group has started the final negotiations in terms of attracting new investors for eobuwie.pl
The CCC Group is completing the process of acquiring two new minority investors for the company eobuwie.pl - the online market leader in the footwear category in Central and Eastern Europe. On March 11, negotiations began, on an exclusive basis, with two selected investors - Cyfrowy Polsat S.A. and A&R Investments Limited, one of the shareholders of the Luxembourg company InPost S.A.
Each of the entities mentioned is interested in purchasing 10% of Eobuwie shares from the CCC Group as part of a pre-IPO transaction for PLN 500 million each.
The exclusivity period will last until March 31, 2021 - at which time it is planned to negotiateThe exclusivity period will last until March 31, 2021 - at which time it is planned to negotiateand signing the final transaction documentation with both investors. The aforementioned transaction will provide Eobuwie with the acquisition of new, strong minority shareholders, and the CCC Group with the acquisition of funds in the amount of PLN 1 billion and at the same time maintaining the position of the majority shareholder in Eobuwie.
The CCC Group plans to allocate the proceeds from the sale of a minority 20% stake in Eobuwie for:• general corporate purposes, including partial repayment and refinancing of liabilities, in the amountapprox. PLN 0.4 billion,• additional financial security in the event of introducing further restrictions (lock-downs) related to the COVID-19 pandemic,• a cash reserve necessary to prepare and partially finance, based on the call option, 25% of Eobuwie shares currently owned by MKK3.
- With this transaction, we want to attract reputable investors for Eobuwie who will support the company and its teamin further, rapid development and building the position of the European leader in online footwear sales. Eobuwie.pl employees have created a unique company and a very good place for work and development - said Dariusz Miłek, Chairman of the Supervisory Board of eobuwie.pl and Chairman of the Supervisory Board of CCC SA.
- We expect that this transaction will strengthen the institutional shareholding of Eobuwie. The proceeds obtained will allow us to secure the entire CCC Group in the times of the current pandemic, and will also support the process of refinancing liabilities, while maintaining the majority stake in Eobuvia. This means that we are able to address the most important challenges of all parties - development, liquidity, financial goals, security - said Marcin Czyczerski, President of the Management Board of the CCC Group.- Eobuwie is currently recording a stable and strong increase in sales, while improving its profitability. We believe that it will be a natural step for the company to debut on the stock exchange in the perspective of 2022 or 2023 - added Marcin Czyczerski.
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CCC S.A. is one of the largest shoe retail companies in Central Europe and oneof the largest footwear manufacturers in the Old Continent. Through its subsidiary eobuwie.pl, the CCC Group is also a leader in the e-commerce footwear market in Central and Eastern Europe. The company is present in 29 countries - in 22, sales are carried out in over 1,000 stationary stores with a total area of 690 thousand. m2, and in 17 via the online channel. The CCC Group has a total of 70 online platforms throughout Europe (eobuwie.pl, ccc.eu, MODIVO, DeeZee, Gino Rossi), sells over 50 million pairs of shoes per year, has its own shoe factories and employs nearly 16,000 employees. The prestige and financial credibility of the company are emphasized by the presence on the Warsaw Stock Exchange and participation in the group of 20 largest companies included in the WIG 20.
