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Marr SpA Announces Effectiveness of Contract for Leasing of Going Concern of Scapa Italia SpA with Possibility for Acquisition


Wednesday, 20 Feb 2013 11:38am EST 

Marr SpA announced that as of February 23, 2013, the contract for the leasing of the going concern of Scapa Italia SpA (Scapa) will become effective. This contract, which is included in the framework of a concordato preventivo (agreement among creditors enabling the continuity of the business) initiated by Scapa, was authorized – following clearance from the Antitrust Authority - by the Milan Law Courts on February 12, 2013. Through the lease of the going concern, MARR will take over the management of the distribution centers in Marzano (Pavia) and Pomezia (Rome). The lease of the going concern, with a duration of 12 months, involves the takeover of the active and passive contracts identified as instrumental in carrying out the activities, including the rental of the two warehouses, in addition to the acquisition of the inventories. The contract also involves the acquisition of the going concern by MARR, subject to the filing of the homologation by the Milan Law Courts of the concordato preventivo which liberates the cessionary (MARR) from any liability concerning the debts of the seller (Scapa). The purchase price, inclusive of equipment with an accounting value of approximately EUR 1.7 million, has been fixed at EUR 3.5 million, from which the leasing fees of EUR 300,000 annually will be deducted. 

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