November 26, 2018 / 7:15 AM / 16 days ago

BRIEF-CCC To Buy Minority Of HR Group, Sell CCC Germany

Nov 26 (Reuters) - CCC SA:

* SAID ON SATURDAY IT HAS SIGNED A CONDITIONAL AGREEMENT TO ACQUIRE A MINORITY STAKE IN HR GROUP HOLDING (HR GROUP) AND SELL CCC GERMANY GMBH

* CCC IS TO BUY ORDINARY AND PRIVILEGED SHARES IN HR GROUP FROM CAPITON V GMBH & CO. BETEILIGUNGS KG (CAPITON) FOR EUR 14.6 MLN AND FROM FLO MAĞAZACILIK VE PAZARLAMA A.Ş (FLO) FOR EUR 11.3 MLN

* AFTER the TRANSACTION HAS BEEN FINALISED, CCC TO OWN 30.55 PERCENT IN HR GROUP

* AS A PART OF THE TRANSACTION, CCC HAS ALSO ENTERED INTO A CALL AND PUT OPTION AGREEMENT FOR THE REMAINING SHARES IN HR GROUP

* CCC IS ALSO TO SELL CCC GERMANY FOR EUR 1 TO BLITZ GMBH, A UNIT OF HR GROUP

* CCC GERMANY IS TO BE INTEGRATED INTO HR GROUP, SELECTED LOSS-MAKING SHOPS WILL BE CLOSED, OTHERS WILL BE REBRANDED AND OPERATED UNDER THE ‘RENO’ BRAND

* CCC TO LEND CCC GERMANY AN AMOUNT NOT EXCEEDING EUR 35 MLN TO COVER EXPENDITURE RELATING TO SHOPS CLOSURE AND THEIR CURRENT LOSSES, AND EUR 6.5 MLN TO COVER OTHER INTEGRATION COSTS

* ON NOV. 9 CCC SIGNED A TERM SHEET AGREEMENT TO BUY 33% OF HR GROUP HOLDING

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Further company coverage: (Gdynia Newsroom)

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