Brief: DIA To Sell Clarel To Grupo Trinity

Distribuidora Internacional de Alimentacion SA

05/12/2023 07:22

Dec 5 (Reuters) - Distribuidora Internacional de
Alimentacion SA  DIDA.MC :
    * INFORMS ON SIGNATURE OF SHARE PURCHASE AGREEMENT
    * ITS WHOLLY OWNED SUBSIDIARY, DIA RETAIL ESPAÑA SIGNED
SHARE
PURCHASE AGREEMENT UNDER WHICH DIA RETAIL WILL SELL TO GRUPO
TRINITY ITS WHOLLY OWNED SUBSIDIARY, BEAUTY BY DIA ("CLAREL")
    * PRICE THAT DIA RETAIL WILL RECEIVE FOR TRANSACTION, WHICH
MAY
VARY DEPENDING ON CERTAIN PARAMETERS, IS ESTIMATED IN A MINIMUM
OF 11.5 MILLION EUROS (PAYABLE IN 2024) AND A POTENTIAL
ADDITIONAL MAXIMUM AMOUNT OF 15 MILLION EUROS IN 2029           
                               
    * DIA RETAIL WILL BENEFIT FROM A COLLECTIBLE DEBT OF 18.7
MILLION
EUROS (15.7 MILLION EUROS OF WHICH ARE NET DEBT) PAYABLE IN
DIFFERENT PHASES (4.2 MILLION EUROS IN 2024, 12.3 MILLION EUROS
IN 2027 AND 2.2 MILLION EUROS IN 2029), WHICH WOULD RESULT IN AN
ESTIMATED MAXIMUM TOTAL FUNDS OF 42.2 MILLION EUROS
    * AGREEMENT, AMONG OTHER ASSETS, INCLUDES ABOUT 1,000 STORES
OF
CLAREL THROUGHOUT COUNTRY AND THREE DISTRIBUTION CENTERS
    * DIA RETAIL EXPECTS TO USE RESOURCES OBTAINED TO PROGRESS
IN
CONSOLIDATION OF ITS GROWTH
    * DIA ESTIMATES A NEGATIVE ACCOUNTING IMPACT OF 9.4 MILLION
EUROS
ON ITS CONSOLIDATED INCOME STATEMENT AS OF 31 DECEMBER 2023
ARISING FROM TRANSACTION

Source text for Eikon:  ID:nCNM6k1Cln 
Further company coverage:  DIDA.MC 

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