February 1, 2019 / 9:44 AM / 5 months ago

BRIEF-CCC Buys 30.55 Pct Stake In HR Group, To Rebrand Its Shops In Germany

Feb 1 (Reuters) - CCC SA:

* SAID ON THURSDAY THAT IT COMPLETED ACQUISITION OF 19.59 PCT STAKE, INCLUDING 1.27 PCT STAKE OF PRIVILEGED SHARES, IN LUXEMBURG-BASED HR GROUP HOLDING S.A R.L.

* BUYS 19.59 PCT IN HR GROUP FROM FLO MAGAZACILIK VE PAZARLAMA A.S FOR EUR 11.3 MILLION

* ACQUIRED FROM CAPITON V GMBH & CO. BETEILIGUNGS KG 12.33 PCT STAKE, INCLUDING 0,70 PCT PRIVILEGED SHARES, IN HR GROUP FOR EUR 14.6 MILLION

* PRIVILEGED SHARES WERE CONVERTED INTO CO’S CLAIMS AGAINST HR GROUP UNDER EUR 20.2 MILLION LOAN AGREEMENT AND SUBSEQUENTLY THE SHARES WERE RETIRED

* FOLLOWING THE RETIREMENT OF PRIVILEGED SHARES, THE COMPANY HOLDS 30.55 PCT STAKE IN HR GROUP HOLDING

* SOLD ITS 100 PCT STAKE IN CCC GERMANY GMBH TO BLITZ 18-535 GMBH FOR EUR 1

* BLITZ 18-535 GMBH IS UNIT OF HR GROUP

* HR GROUP TO CLOSE SOME, UNPROFITABLE, STORES RUN BY CCC GERMANY GMBH AND REBRAND SELECTED STORES PREVIOUSLY OPERATED UNDER “CCC” BRAND TO “RENO” BRAND

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Further company coverage: (Gdynia Newsroom)

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