May 23, 2018 / 5:41 AM / 3 months ago

BRIEF-CCC To Buy Swiss Chain Of Stores Karl Voegele For CHF 10 Mln

May 23 (Reuters) - CCC SA:

* SAID ON TUESDAY THAT ITS UNIT NG2 SUISSE GMBH (PURCHASER) SIGNED CONDITIONAL SALES CONTRACT WITH KAVO-HOLDING AG AND PHIRAM HOLDING AG (SELLERS BASED IN SWITZERLAND) OF TOTAL VALUE OF CHF 10 MILLION

* NG2 SUISSE TO BUY MAJORITY STAKE OF 70% OF KARL VOEGELE AG (VOEGELE) AND ASSIGNMENT OF LOAN RECEIVABLES GRANTED TO VOEGELE BY SHAREHOLDER

* TRANSACTION IS PLANNED TO FINALIZE TILL THE END OF H1 2018 BUT NOT LATER THAN ON SEPT. 30, 3018

* PURCHASER WAS ALSO GRANTED OPTION TO BUY REMAINING 30% STAKE OF VOEGELE

* AT 2017-END VOEGELE HAD NETWORK OF 219 STORES UNDER BRANDS VOEGELE AND BINGO

* VOEGELE FY 2017 REVENUE WAS CHF 172 MLN WITH FY 2017 NEGATIVE EBITDA OF CHF 5.9 MLN

* VOEGELE UNDERGOES RESTRUCTURING PROCEDURES AND SEES FY 2019 EBITDA AT CHF 0.7 MLN

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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