June 23, 2017 / 8:06 AM / 2 months ago

BRIEF-Sfinks Polska to acquire 'Piwiarnia Warki' chain from Grupa Zywiec

June 23 (Reuters) - SFINKS POLSKA SA:

* SAID ON THURSDAY THAT IT HAS DECIDED TO ACCEPT THE OFFER FROM GRUPA ZYWIEC AND WILL ACQUIRE FRANCHISE CHAIN OF PUBS 'PIWIARNIA WARKI' FOR 12.0 MILLION ZLOTYS NET

* PRICE TO BE PAID IN SIX YEARS

* THE PARTIES WILL ALSO SIGN A COOPERATION AGREEMENT FOR 20 YEARS, UNDER WHICH GRUPA ZYWIEC WILL HAVE EXCLUSIVE RIGHTS FOR SALES OF BEER AND CIDER IN THE FRANCHISE CHAIN

* UNDER THE AGREEMENT SFINKS WILL NEED TO KEEP CERTAIN NUMBER OF PUBS IN 2017-2018 AND DEVELOP THE CHAIN AS OF 2019, AS WELL AS TO KEEP CERTAIN MINIMUM SALES LEVEL OF BEER AND CIDER

* PROCEEDS FROM THIS CONTRACT FOR THE COMPANY ARE ESTIMATED AT 45.0 MILLION ZLOTYS NET

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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