July 19, 2018 / 9:23 AM / 5 months ago

BRIEF-Gino Rossi in talks to sell Simple CP

July 19 (Reuters) - GINO ROSSI SA:

* ITS MANAGEMENT IS ANALYSING THE MONNARI TRADE’S 12 MILLION ZLOTY OFFER FOR SIMPLE CREATIVE PRODUCTS (SIMPLE CP) AND THE COMPANY WILL INFORM ABOUT FURTHER STEPS REGARDING THE NEGOTIATIONS, GINO ROSSI SAID IN A STATEMENT

* THE COMPANY RECEIVED AN UNBINDING ADJUSTED OFFER TO SELL SIMPLE CP TO MONNARI TRADE ON JULY 18

* THE REFERENCE ENTERPRISE VALUE (EV) OF THE TRANSACTION WOULD BE AT 31.9 MLN ZLOTYS AS THE LEVEL OF SIMPLE CP DEBT HAS BEEN SET AT 19.9 MILLION ZLOTYS

* THE FINAL PRICE WOULD ALSO BE ADJUSTED BY CHANGES IN WORKING CAPITAL AND NET DEBT

* “WE ARE AT THE FINAL STAGE OF THE SIMPLE CP SELLING PROCESS,” THE COMPANY SAID AND ADDED THAT THE SALE OF THE RETAIL PART OF ITS BUSINESS IS BENEFICIAL FOR THE GROUP

* IT WILL HELP TO REDUCE DEBT AND GENERATE FUNDS TO INCREASE SALES AND FOCUS ON FURTHER DEVELOPMENT OF GINO ROSSI

* IN FEB. MONNARI TRADE SUBMITTED PRELIMINARY OFFER FOR SIMPLE CP IN A RANGE OF 46 MILLION ZLOTYS TO 50.5 MILLION ZLOTYS, SUBJECT TO DUE DILIGENCE Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below