November 27, 2018 / 7:34 AM / 19 days ago

BRIEF-CDRL Agrees Terms To Buy 90% Of Co Selling Children's Products For USD 6.4 mln

Nov 27 (Reuters) - CDRL SA:

* SAID ON MONDAY THAT IT HAS AGREED TERMS OF ACQUISITION OF MAJORITY STAKE IN BELARUS-BASED “HANDLOWO – PRZEMYSLOWA GRUPA WEST OST UNION” SP. Z O.O. (COMPANY)

* UNDER AGREEMENT TO ACQUIRE 90 PERCENT OF THE COMPANY FOR USD 6.4 MILLION

* THE COMPANY TO BE ACQUIRED SELLS CHILDREN’S PRODUCTS, IT OWNS 46 STORES IN BELARUS

* ACCORDING TO THE COMPANY’S DATA ITS ANNUAL REVENUE AND EBITDA EXCEED USD 65 MILLION AND USD 2 MILLION RESPECTIVELY

* THE COMPANY PLANS TO FUND THE ACQUISITION WITH ITS OWN FUNDS OR BY USING EXTERNAL FUNDS INCLUDING BOND ISSUE

* THE SELLERS ARE THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT AND FOUR PERSONS

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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