December 29, 2016 / 7:41 AM / 9 months ago

BRIEF-Sfinks Polska to buy Fabryka Pizzy

Dec 29 (Reuters) - Sfinks Polska SA :

* Said on Wednesday signed an investment agreement with the owner of Fabryka Pizzy Sp. z o.o to build a chain of restaurants and acquire all shares in Fabryka Pizzy

* According to the agreement, the investment is divided into two stages

* In the first stage, Sfinks Polska will have the exclusive right to open Fabryka Pizzy restaurants via a master franchising scheme until March 31, 2018

* During this period, Sfinks Polska will also conduct due diligence of Fabryka Pizzy and will have the possibility of early commencement of the second stage of the agreement or withdrawal from it with a 1-month notice period

* In the second stage, Sfinks Polska will continue extending the chain and will acquire all shares in Fabryka Pizzy for no less than 6 million zlotys ($1.42 million) and no more than 10 mln zlotys by the end of March, 2021

* Signed a prelim. agreement for cooperation with owner of “Fabryka Pizzy” in Nov. Source text for Eikon:

Further company coverage:

$1 = 4.2183 zlotys Gdynia Newsroom

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